Former Apple CEO John Sculley has confirmed that he and a group of investors were lining up a bid for BlackBerry, but they waited too long and lost out. In an interview on Bloomberg Surveillance, Sculley reveals how he was surprised when the struggling smartphone maker announced a $1 billion investment deal earlier this week.
CNBC reported Monday that billionaire hedge-fund investor Julian Robertson sold all of his shares in Apple because he’d recently read a biography of founder Steve Jobs, and found the former CEO of Apple to be a “really awful person.”
Robertson admits that the stock did very well for him, but would rather “let someone else make the money from now on,” as he said on CNBC’s investment show, Closing Bell.
What goes up must come down, in physics and in investment. Stock prices for Apple have hit a low recently, down about a fourth of it’s value. Analysts believe that upcoming taxes on capital gains and investment dividends have stock holders rushing to get rid of as much as they can to avoid record tax hikes.
“No individual investment can defy gravity,” said the deputy chief investment officer for Wells Fargo, Erik Davidson.
Ping never had a chance, but a recent report may show the way to Apple’s eventual success in the social media space. According to a report in The New York Times, “people briefed on the matter” say that Apple has been talking with the social media startup about making a strategic investment.
The numbers bandied about include an Apple investment stake of hundreds of millions of dollars, which might in turn increase Twitter’s high valuation of around $8.4 billion to a nicer-looking $10 billion.