Legendary investor Warren Buffett Buys a huge stake in Apple, as the stock price hovers around $90 a share
Legendary investor Warren Buffett, said that his investing company, Berkshire Hathaway, has purchased almost 9.9 million shares of Apple (AAPL) stock.
This seems to be the first time Warren Buffett has ever invested in the tech company. Buffet purchased the stock at approximately $109 a share in the first quarter. Unfortunately for Buffet, the value of this investment has dropped a bit with the slowdown of Apple in general, that we talked about here. The original value of Buffett’s investment was close to about $1 billion dollars. Since Apple stock prices have dropped to just about $90 dollars a share, Berkshire Hathaway’s shares of Apple is now worth short of $900 million.
Apple stock shares climb out of the hole a bit after Warren Buffett buys a large stake
With the news of this share acquisition, Apple stock price has rebounded a bit, once again putting it ahead of Google‘s parent company, Alphabet, into the most valued Company on the planet. The two tech giants have been going back and forth for months to see who is the bigger company in market cap size. This is the second major purchase by Berkshire Hathaway, which has recently grown its stake in computer company IBM. Berkshire Hathaway is also supposedly looking at a takeover of Yahoo, which is now considered a subpar company. Warren Buffett’s company also has holdings in various companies from Coca-Cola, American Express, Kraft Heinz, and Wells Fargo. News has recently broke that fellow billionaire investor, Carl Icahn, has sold its entire portfolio of Apple, which we talked about here.
In similar news, Apple has reportedly invested $1 billion in a Chinese ridesharing service similar to Uber, which we also talked about here.
The Great Wall (2016) HD
||Jon Jashni, Peter Loehr, Charles Roven, Thomas Tull.
||December 16, 2016
||China, United States of America.
||Universal Pictures, Atlas Entertainment, China Film Group, Le Vision Pictures, Legendary Entertainment, Legendary East, Kava Productions.
||English, 普通话, Український.
||Action, Adventure, Fantasy, Thriller.
‘The Great Wall’ is a movie genre Action, was released in December 16, 2016. Zhang Yimou was directed this movie and starring by Matt Damon. This movie tell story about European mercenaries searching for black powder become embroiled in the defense of the Great Wall of China against a horde of monstrous creatures.
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Apple invests 1 Billion Dollars in Chinese ride-sharing service Didi Chuxing
Apple invests 1 Billion Dollars in Chinese ride-sharing service Didi Chuxing.
Almost out of the blue, Apple just invested $1 billion into Chinese ridesharing service called “Didi Chuxing,” which is a direct competitor to the Uber ridesharing service.
Didi Chuxing serves up some 11 million rides a day and owns about 88% of the ride sharing services in China alone. Even with those impressive numbers, the Didi Chuxing service is supposedly losing millions in a war against Uber.
Supposedly, Apple CEO Tim Cook has stated that investing into this company will not only help Apple decipher how certain aspects of the Chinese market works, but bring a great return on their investment. Analysts and speculation also states that by buying into the service, it will help Apple’s efforts into possibly furthering their secretive self driving car initiative which is been said to have hired many auto engineers and tech engineers to battle companies such as Tesla. This is also the largest amount of money this Chinese company has ever received as an investment from any one company.
What’s next for Apple and Didi Chuxing?
Why did Apple CEO Tim Cook invest $1B in Chinese ride-sharing service Didi Chuxing?
As iPhone and iPad sales began to wind down for Apple, it seems as though Tim Cook is starting to try to diversify his company’s products and services to offset a huge amount of money the iOS products bring in yearly. Apple and the government of China have gone back and forth many times, sparring over different issues which makes this particular investment notable. Some analysts seem to think that this is a token to show the Chinese government that Apple is serious about moving forward in that country. This could also indicate a move by Apple to bring components of this ride-sharing service back into the United States and compete directly with services such as Lyft and Uber.
It seems now that Apple is going to concentrate more on value added services such as Apple Pay an Apple Music and slow down their hardware aspirations for a while. With the amount of money that services such as Lyft and Uber are bringing in, Apple seems determined to get a cut of the pie. As we said in a recent article, Apple does need to diversify itself quickly to maintain their current status is one of the largest companies in the world.