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Apple (AAPL) Reportedly Set to Invest $1B in SoftBank Fund
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Speculations are rife that Apple Inc. (AAPL - Free Report) apparently might contribute $1 billion to SoftBank’s massive tech fund. The Japanese giant is looking to set up a $100 billion fund to make big investments, going ahead. However, there is no official word on the matter from any party.
SoftBank is one of the biggest telecom and Internet companies in Japan. The company has an 80% stake in Sprint Corp. In fact, SoftBank has secured the "exclusive" rights of selling iPhone in Japan. Apple and Softbank CEOs, reportedly, share a good rapport and both the companies have had inked numerous collaborations in the last few years.
Per media reports, President-elect Donald Trump met SoftBank CEO Masayoshi Son last week. At the meeting, Son apparently said that the funds will be directed toward investments in startups and creation of 50K jobs in the U.S.
The Wall Street Journal, which first broke the news, said Apple has so far kept its investment strategy limited to buying smaller stakes in tech startups. However, after making a $1 billion investment in Didi Chuxing, Apple has been amending its investment roadmap. Citing sources familiar with the matter, WSJ added that Apple could benefit from investing in the funds as it will “gain insight on emerging technologies”. Apple is one of the world’s most valuable companies in terms of market value and boasts a cash pile of over $200 billion.
Apart from Apple, SoftBank is itself contributing $25 billion to the fund and is reportedly trying to convince Saudi Arabia’s Public Investment fund to add $45 billion to the pool.
Year to date, Apple has underperformed the broader market. Shares of Apple have grown over 7.6% compared with the Zacks Computer Mini industry’s gain of 9.7%.
Better-ranked stocks in the broader tech space include TiVo Corp. , Facebook Inc. and LivePerson, Inc. (LPSN - Free Report) . TiVo sports a Zacks Rank #1 (Strong Buy) while Facebook and LivePerson carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
TiVo has delivered an average positive earnings surprise of 97.76% in the trailing four quarters while Facebook and LivePerson have delivered positive earnings surprises of 21.11% and 56.43%, respectively over the same time frame.
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Apple (AAPL) Reportedly Set to Invest $1B in SoftBank Fund
Speculations are rife that Apple Inc. (AAPL - Free Report) apparently might contribute $1 billion to SoftBank’s massive tech fund. The Japanese giant is looking to set up a $100 billion fund to make big investments, going ahead. However, there is no official word on the matter from any party.
SoftBank is one of the biggest telecom and Internet companies in Japan. The company has an 80% stake in Sprint Corp. In fact, SoftBank has secured the "exclusive" rights of selling iPhone in Japan. Apple and Softbank CEOs, reportedly, share a good rapport and both the companies have had inked numerous collaborations in the last few years.
Per media reports, President-elect Donald Trump met SoftBank CEO Masayoshi Son last week. At the meeting, Son apparently said that the funds will be directed toward investments in startups and creation of 50K jobs in the U.S.
The Wall Street Journal, which first broke the news, said Apple has so far kept its investment strategy limited to buying smaller stakes in tech startups. However, after making a $1 billion investment in Didi Chuxing, Apple has been amending its investment roadmap. Citing sources familiar with the matter, WSJ added that Apple could benefit from investing in the funds as it will “gain insight on emerging technologies”. Apple is one of the world’s most valuable companies in terms of market value and boasts a cash pile of over $200 billion.
Apart from Apple, SoftBank is itself contributing $25 billion to the fund and is reportedly trying to convince Saudi Arabia’s Public Investment fund to add $45 billion to the pool.
APPLE INC Price
APPLE INC Price | APPLE INC Quote
At present Apple carries a Zacks Rank #3 (Hold).
Year to date, Apple has underperformed the broader market. Shares of Apple have grown over 7.6% compared with the Zacks Computer Mini industry’s gain of 9.7%.
Better-ranked stocks in the broader tech space include TiVo Corp. , Facebook Inc. and LivePerson, Inc. (LPSN - Free Report) . TiVo sports a Zacks Rank #1 (Strong Buy) while Facebook and LivePerson carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
TiVo has delivered an average positive earnings surprise of 97.76% in the trailing four quarters while Facebook and LivePerson have delivered positive earnings surprises of 21.11% and 56.43%, respectively over the same time frame.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>