Apple stock earns Warren Buffett $2.6 billion in a single day | Cult of Mac

Apple stock earns Warren Buffett $2.6 billion in a single day


Breaking news: Warren Buffett knows how to invest wisely.
Photo: CNBC

For a person who famously said he doesn’t like to invest in tech stocks, Warren Buffett has done pretty well with Apple.

Following the company’s amazing quarterly earnings this week, Buffett’s shares in Apple have proven to be an insanely smart bet. How smart? Thanks to the 6 percent spike in Apple stock yesterday, Buffett’s Berkshire Hathaway firm likely made upward of $2.6 billion in a single day.

To put that in perspective, it’s three-quarters as much as the $3.4 billion activist investor Carl Icahn previously made investing in Apple over the course of two years.

As of the end of March, Berkshire Hathaway held 239.6 million Apple shares, as per FactSet data. Provided that figure remains accurate, this means Buffett’s firm most likely made $8 billion in four months from its Apple investment.

Apple shares have risen 19 percent this year, and are currently up 34 percent from where they were at this time in 2017.

The bump after Tuesday’s market-moving Apple earnings call put Cupertino within spitting distance of the fabled $1 trillion valuation. Apple’s value currently stands at a massive $973.2 billion. AAPL stock needs to rise only a few dollars a share — from $201.50 to $207.04 — to make APple the world’s first trillion-dollar company.

Analyst Neil Cybart yesterday shared a pretty astonishing factoid on Twitter. With its $55 billion increase yesterday, Apple earned the combined market cap of Spotify ($31 billion) and Twitter ($24 billion) in a single day.

Source: MarketWatch