Why we’re skipping the new iMac and buying Apple stock, this week on The CultCast

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CultCast 436: This week we talk iPhone SE 2, HomePod and the AirPower charging mat, resurrected!
Which makes a better investment, iMac or AAPL?
Photo: @YSR50

This week on The CultCast: The brand-new iMac may look the same, but it’s so powerful that video editors are gleefully buying two or three at a time — we’ll tell you everything that’s new.

But look, forget buying the shiny new iMac, and put your money in Apple stock instead! I’m going all in on AAPL. Find out why I’m about to dump a huge cash stockpile into Apple stock, and the cash value of my current investments. We’re talking real numbers here, people.

Our thanks to Squarespace for supporting this episode. Easily create a beautiful website all by yourself, at Squarespace.com/cultcast. Use offer code CultCast at checkout to get 10% off your first purchase of a website or domain.

Apple stock will split 4-to-1

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AAPL
Get ready for another stock split, Apple investors!
Photo: Buster Hein/Cult of Mac

Apple’s board of directors has approved a four-to-one stock split, the company said Thursday. AAPL stock, which closed Thursday at $384.76, should go for around $100 a share when the split occurs in late August.

The news, revealed in Apple’s blowout Q3 2020 earnings report, means investors with one share at close of business on Aug. 24 will be given three additional shares trading at one-fourth the price. It’s basically a psychological move that makes Apple stock seem more affordable.

Gates Foundation buys more than half a million Apple shares

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Bill Gates
Picture this guy investing in Apple. Stranger things have happened!
Photo: Fulvio Obregon

The Gates Foundation, the charitable organization belonging to Bill and Melinda Gates, snapped up more than half a million Apple shares during the first three months of 2020, a new report claims.

According to an SEC filing, reported by Smarter Analyst, the largest private foundation in the world purchased some 501,044 Apple shares in the first quarter of 2020. At present, AAPL is trading at $320.40, having made back the value it lost during the coronavirus pandemic.

Apple shares shoot up after Trump declares national emergency

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Apple Oriocenter 2
Finally, some good news for Apple this week.
Photo: Apple

President Trump’s declaration of a national emergency provided some much-needed relief to Apple’s stock price just before the market closed this afternoon.

Apple shares jumped up over $20 in value during the last 30 minutes of trading today, just after President Trump announced that the U.S. government will free up $50 billion in federal resources to combat the COVID-19 outbreak.

Boom or bust? 2020 Apple stock price predictions are all over the board

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Apple could be a $2 trillion company by end of 2021
2020 could finally bring us the iPhone upgrade supercycle investors have been dreaming of.
Photo: Ste Smith/Cult of Mac

One of the most bullish Apple analysts is predicting that the iPhone-maker’s stock price still has plenty of room to rise.

Apple shares hit an all-time high of $300 last week and currently trade just under that mark. In his latest note to investors, Wedbush analyst Daniel Ives is predicting huge gains for AAPL in 2020, but not all analysts are nearly as optimistic.

Today in Apple history: Apple stock smashes through $700 barrier

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bull Wall Street
Like a bull in an ... Apple store?
Photo: Sam Valadi/Flickr CC

September 17: Today in Apple history: Apple stock smashes through $700 a share September 17, 2012: On the back of record iPhone 5 preorders of 2 million in 24 hours, Apple’s stock price hits a new all-time high. For the first time in history, AAPL breaks the $700 mark in after-hours trading. Passing the milestone cements Cupertino’s place as the world’s most valuable publicly traded company.

Amazingly, the new record is $270 a share higher than Apple at the start of the year. The stock rose 65% in just nine months.

Today in Apple history: Steve Jobs gets embroiled in stock-backdating scandal

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It took 20 pounds of personal computing artifacts to form the face of Steve Jobs.
Steve Jobs' stock demands changed some people's view of the tech innovator.
Photo: Jason Mercier

August 29: Today in Apple history: Steve Jobs gets embroiled in Apple stock-backdating scandal August 29, 2001: During a meeting, Apple’s board of directors awards Steve Jobs new stock options that will become part of a stock-backdating scandal several years later.

When the matter eventually ends up in court, Apple’s former general counsel pays $2.2 million to settle charges that she backdated stock options for Jobs, herself and others — and created fake paperwork to hide this fact.

Google’s massive cash pile is now bigger than Apple’s

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A group called Google You Owe Us wants $1000 each after Google invaded their privacy
Apple's been spending cash lately while Google's been hoarding it.
Photo: Ed Hardy/Cult of Mac

Apple’s decade-long run as the company with the world’s largest cash pile has finally come to an end.

Financial paperwork filed by Apple and Google’s parent company Alphabet revealed that the search engine giant now has $15 billion more in the bank than the iPhone-maker does.