WORLDVIEW: Understanding Apple’s share price surge – it’s all about China, iPhone 8
It's been a roller coaster ride since we added Apple shares to the Biznews Global portfolio in June 2015. We went big – allocating a hefty 15% of the assets in this tightly targeted investment play at an average price of just under $125 a share.
The timing wasn't great with the stock dropping back to $90 as Wall Street lost confidence in CEO Tim Cook's ability to reinvent the house Steve Jobs built. But after this week's price surge and a little help from SA's sliding currency, the investment has delivered a chunky 35% in just over two years.
Apple stock got a serious boost in January when that most rational of beings, Warren Buffett, filed a notice showing his Berkshire Hathaway had acquired 72m Apple shares at between $115 and $120. This added to the initial 10m shares Berkshire picked up a year before.
___STEADY_PAYWALL___