Warren Buffett put on the Apple and it has paid off
At the moment the expected profit from Buffett’s purchase of the securities of Apple is $17.2 billion.
The investment firm of us billionaire Warren Buffett’s Berkshire Hathaway in the second quarter of 2018 bought 12.4 million shares of Apple. About it reports Interfax-Ukraine with reference to the Dow Jones on Wednesday, August 15.
Thus, at the end of June, Berkshire owned 251,96 million securities Apple for a total of $46.6 billion, Berkshire is the second largest shareholder of Apple after the Vanguard Fund.
However, the company sold 4.5 million shares in the Bank Wells Fargo who is experiencing problems lately because of the numerous court proceedings. After that stake in Apple occupies the first place by the value of the investment portfolio of Berkshire, although the company started to buy them in the first quarter of 2016.
Warren Buffett has traditionally refrained from investing in high-tech companies, however, made an exception for Apple and it has paid off: according to Bloomberg, at the moment, his expected profit from purchase of securities of the company is $17.2 billion.
In early August, it was reported that the market value of Apple Inc exceeded one trillion dollars. Apple became the first American company that has managed to overcome this mark. Previously it was possible only PetroChina in late 2007, but its stock immediately plummeted.
Growth of Apple shares due to strong quarterly earnings statements: last quarter, the company received the highest revenue for April-June 53,26 billion, and its profit grew by 32%, despite virtually unchanged sales of the iPhone.
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