Apple’s Valuation at $3 Trillion, Buffet Makes $120B Fortune
Warren Buffet Who Controls 5% of Apple’s Shares Managed to Pocket More than US$ 120B
Is Apple Currently the Most Valuable Company?
The First $3 Trillion Company
The technology giant from the United States, Apple Inc., officially became the first company in the world to reach a valuation of US$ 3 trillion or equivalent to The iPhone maker set a record valuation on US exchanges on Monday at 18:45 GMT before dropping again slightly.
Strongest Investment by Berkshire
The Berkshire Hathaway CEO’s investment became his biggest success after acquiring a 5 percent stake in the iPhone maker in 2018 for $36 billion. Currently, Apple’s investment is already worth US $ 160 billion after the rally in the new year. “Without a doubt, this is the strongest investment that Berkshire has made in decades,” said James Shanahan, Berkshire analyst at Edward Jones.
Aside from the stock’s steadily rising valuation, Berkshire has enjoyed regular dividends, averaging around $775 million per year. Currently, shares in Apple account for 40 percent of Berkshire’s portfolio, according to InsiderScore.com. In addition, the conglomerate owned by Warren Buffet is also the largest Apple shareholder outside the index and provider of funds on the stock exchange. “This will probably be the best business I’ve ever done in this world. I don’t think of Apple as a stock. I think of it as our third business,” Buffett said in an interview with CNBC in February 2020.
AAPL Technical Analysis
AAPL is still in a bullish momentum. The price is still moving above the 50, 100, and 200 MAs which indicates a very bullish sentiment in the long term.
WHAT ZFX THINKS…
If Apple can maintain its current growth, Apple is expected to go bullish towards the $192.62 level and more to $208.14 level.
The current support for Apple is $167.99, we personally don’t see that AAPL breaking this support level anytime soon. Also, big investors such as Warren Buffet still holding it without any intentions to sell for now.
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