Russian Billionaire Spends $100 Million On Apple Stock Anticipating Rebound



Russian billionaire Alisher Usmanov has revealed that he recently spent $100 million on Apple shares in anticipation that they will rebound. The 59-year-old believes that Apple is a “very promising” investment, despite the current share price being almost 40% off its peak last September.

Usmanov, who is the world’s 35th wealthiest man, made a more than ten-fold return on his investment in Facebook last May, and currently has a fortune worth $19.8 billion according to the Bloomberg Billionaires Index. He has also made money from investments in Alibaba and Russian Internet company

Usmanov is anticipating yet another profit on his Apple shares.

“I believe in the future of this company even after Steve Jobs,” Usmanov said during an interview with Bloomberg. “When the company lost $100 billion of its market value, it was a good time to buy its shares, as the capitalization should rebound.”

“Nothing is eternal,” he added. “But for the next three years I believe Apple is a very promising investment, especially given large dividend payments and buybacks.”

Apple’s share price has quickly tumbled since reaching its peak last September, with investors concerned that its sales are slowing amid increasing competition from rivals like Samsung.

Many reports suggest, however, that the Cupertino company has some exciting products up its sleeve, with a low-cost iPhone and an “iWatch” tipped for 2013, and an Apple television in 2014. Apple is also expected to announce the iPhone 5S and new iPads this fall.

Source: Bloomberg

  • lwdesign1

    So now the big investors swoop in after all the media bashing has forced the stock price down. Apple will continue selling huge numbers of iPads, iPhones and Macs like it has consistently done, and will remain insanely profitable. Please note folks that Apple’s share price is NOT related in any way to the company’s sales, future products or current profitability. Share prices are determined by “investor confidence”, and this confidence can be quickly eroded simply by releasing bad press. Investors get panicky and sell, forcing the price even further down. Articles in Forbes, NY Times and Business Week, etc. would have you believe the company is losing money. The truth is that the only people losing money are the investors due to media stock manipulation.
    Now is the time when savvy investors will buy. This is one of the first positive articles to be released about Apple investment. Watch in the coming weeks and months as all of a sudden Apple will become the darling of the press and investment community, shoving the stock price up again and allowing in the know investors to make a pile of cash.