May 8, 2018
Apple is riding high on glowing comments from legendary investor Warren Buffett — enough that experts say the iPhone maker could soon become the first company to touch a $1 trillion market capitalization.
Shares of Apple climbed nearly 1% to $185.16 on Monday afternoon, pushing its market cap to roughly $903.5 billion.
It marks a new all-time intra-day high for Apple, after it reached that milestone last week on the back of news that Buffett scooped up another 75 million shares in the first quarter.
Ahead of his annual Berkshire Hathaway shareholder meeting, Buffett spoke highly of his investment in Apple.
‘It is an unbelievable company,’ Buffett explained.
‘If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States’.
Buffett also criticized analysts and investors who have zeroed in on Apple’s sales of the iPhone X.
This article was posted: Tuesday, May 8, 2018 at 7:48 am