• Home
  • Apple
  • News
  • Apple Shares Get a 9% Boost With News of Warren Buffett Stock Buy

Apple Shares Get a 9% Boost With News of Warren Buffett Stock Buy

Apple Shares Get a 9% Boost With News of Warren Buffett Stock Buy

Shares of Apple stock have gotten a very nice 9% boost in the wake of Warren Buffett’s reveal of his $1.2 billion stake in the iPhone maker on May 16. Apple’s stock had been on the downslope following its earnings call at the end of April, during which the company revealed it had experienced its first ever drop in iPhone sales, and its first year-over-year revenue decline in 13 years.

Apple Shares Get a 9% Boost With News of Warren Buffett Stock Buy

Fortune:

Since then, shares of Apple have soared 9%—finally breaching the $100 mark, its highest point in a month. Buffett tends to have that effect on stocks—for example, when the company disclosed a stake in Kinder Morgan  in February, shares shot up 11%.

While a certain amount of Apple’s rebound can likely be attributed to Warren Buffett’s buy-in, it should be noted that Apple has delivered some good news in recent weeks that have also given the stock a bit of a boost.

Apple seemingly upped its production targets—which was a good sign for the company’s iPhone 7 sales. The tech company asked producers to make 72 million to 78 million new iPhone 7 by the end of the year—its highest production target in about two years, according to Barrons. Analysts had expected just 65 million iPhone 7s for the year.

Investors also haven’t shown much concern over news from earlier this week that Apple’s planned retail expansion to India has hit a snag, as the Indian government has ruled Apple must sell locally sourced goods if it hopes to open store in the country.

Apple’s suppliers are mostly located in China, and the company has no manufacturing facilities located in India. There may be hope somewhere down the road, as Apple’s main manufacturing partner, Foxconn, is said to be planning a facility in the country, but no deal has been signed. When a deal is in place, construction of such a facility could take around 18 months or so to complete.

  1. benelli r1 says:

    420156 992835Some times its a pain in the ass to read what weblog owners wrote but this site is extremely user friendly ! . 928625

  2. 813924 798686quite good post, i certainly enjoy this wonderful web site, persist in it 564685

  3. 154343 946081An intriguing discussion will probably be worth comment. I think that you simply write significantly much more about this subject, it may possibly become a taboo topic but generally consumers are inadequate to communicate in on such topics. To yet another. Cheers 724323

  4. 960536 902101Hello my family member! I wish to say that this post is remarkable, excellent written and come with approximately all vital infos. I would like to see extra posts like this . 607058

  5. betflix says:

    94300 59450Great activity! 741004

  6. 857253 809174What platform and theme are you employing if I may ask? Exactly where can I buy them? x 760020

  7. 392906 47834quite good post, i certainly really like this remarkable internet site, keep on it 278635

  8. about his says:

    765779 90986Good article. It does shed some light on the problem. By the for those interested in binary options can get an exclusive binary options bonus. 383195

  9. 163440 819829Music began playing anytime I opened this web site, so irritating! 397711

  10. 220612 725223Some truly howling work on behalf with the owner of this web site , dead wonderful topic matter. 886832

  11. sbo says:

    254119 778015Just a smiling visitant here to share the enjoy (:, btw outstanding pattern . 761103

Leave a Reply

Your email address will not be published.