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Here's Why Apple (AAPL) Stock Hit An All-Time High Today
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Update: Shares of Apple surpassed $153.44 in early afternoon trading on Monday, which, when factoring in its 5.214 billion outstanding shares, pushed its market capitalization to over $800 billion for the first time ever.
Apple Inc. (AAPL - Free Report) received another major boost on Monday after reports surfaced that Warren Buffett’s company doubled its already bullish Apple bet.
Berkshire Hathaway Inc. (BRK.A - Free Report) disclosed in an SEC filing its newest substantial stake in the iPhone maker. As of March 31, Buffett’s company now owns $19.2 billion worth of Apple stock. The newly, nearly-tripled position makes the tech giant Berkshire’s second-largest equity holding by value.
Customer loyalty is one of the main reasons for Buffett and Berkshire’s continued faith in the technology giant. "It's a very, very, very valuable product to people that build their lives around it,” Buffett said on CNBC’s “Squawk Box” on Monday. “And that's true of 8-year-olds and 80-year-olds."
Berkshire’s nearly yearlong infatuation with Apple comes despite Buffett’s long-standing position to stay away from tech stocks. The Omaha, Nebraska-based company first hopped on the Apple train last year, around the same time the company’s stock hit a two-year low. As of December 31, 2016, Berkshire owned roughly $6.6 billion worth of Apple shares.
Share of Apple have climbed 60% over the past 12 months and are up nearly 30% so far in 2017.
Apple’s stock is up 2.61% to $152.85 per share in early afternoon trading on Monday. Today’s movement, on the back of Buffett’s continued faith, represents the technology superpower’s new all-time high.
Updated Bullish Forecast
Drexel Hamilton analyst Brian White updated his Apple forecast on Monday. White is now targeting Apple at $202 per share, its highest price ever. Apple would be worth $1.6 trillion if the company were to meet this new lofty expectation.
"We believe Apple remains among the most underappreciated stocks in the world," White wrote in a note to clients on Monday.
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Here's Why Apple (AAPL) Stock Hit An All-Time High Today
Update: Shares of Apple surpassed $153.44 in early afternoon trading on Monday, which, when factoring in its 5.214 billion outstanding shares, pushed its market capitalization to over $800 billion for the first time ever.
Apple Inc. (AAPL - Free Report) received another major boost on Monday after reports surfaced that Warren Buffett’s company doubled its already bullish Apple bet.
Berkshire Hathaway Inc. (BRK.A - Free Report) disclosed in an SEC filing its newest substantial stake in the iPhone maker. As of March 31, Buffett’s company now owns $19.2 billion worth of Apple stock. The newly, nearly-tripled position makes the tech giant Berkshire’s second-largest equity holding by value.
Customer loyalty is one of the main reasons for Buffett and Berkshire’s continued faith in the technology giant. "It's a very, very, very valuable product to people that build their lives around it,” Buffett said on CNBC’s “Squawk Box” on Monday. “And that's true of 8-year-olds and 80-year-olds."
Berkshire’s nearly yearlong infatuation with Apple comes despite Buffett’s long-standing position to stay away from tech stocks. The Omaha, Nebraska-based company first hopped on the Apple train last year, around the same time the company’s stock hit a two-year low. As of December 31, 2016, Berkshire owned roughly $6.6 billion worth of Apple shares.
Share of Apple have climbed 60% over the past 12 months and are up nearly 30% so far in 2017.
Apple’s stock is up 2.61% to $152.85 per share in early afternoon trading on Monday. Today’s movement, on the back of Buffett’s continued faith, represents the technology superpower’s new all-time high.
Updated Bullish Forecast
Drexel Hamilton analyst Brian White updated his Apple forecast on Monday. White is now targeting Apple at $202 per share, its highest price ever. Apple would be worth $1.6 trillion if the company were to meet this new lofty expectation.
"We believe Apple remains among the most underappreciated stocks in the world," White wrote in a note to clients on Monday.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>