Warren Buffet pushes Apple near $1 trillion mark
Stocks reach all-time high thanks to comments from the Berkshire Hathaway CEO
by Abi Moses on 27th February, 2018
Shares in tech giants, Apple, have enjoyed a major surge this week thanks to some encouraging support from Berkshire Hathaway CEO, Warren Buffet.
Stocks reached a near-record high after the American billionaire confirmed that his investment firm, Berkshire Hathaway, has invested more in Apple in the past twelve months than any other company. Apple are now the conglomerate's largest stock investment after deciding to increase its stake to 23% on February 14th.
Chief Investment Strategist at New York-based investment management firm Inverness Counsel, Tim , said "You still have a relatively inexpensive stock and an ecosystem that would be extremely hard to replicate. We concluded that Apple would come out with something and calm the market, and make investors look to the future."
Apple remain one of the better performers on the S&P 500 and the majority of analysts have increased its price targets since releasing its quarterly reports. With the median price for Apple stocks up from $189.48 to $192.43, its stock market value would now be at $989 billion – up from $909 billion since Monday.
If Apple can breach the $1 trillion barrier in the coming weeks their stocks should gather enough momentum to push upwards from there. You can trade all S&P 500 stocks using many brokers available via Spread Betting. Sign up today and start trading.
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