Apple stock price sets new post-split record closing at $183.83

Posted:
in General Discussion
Just days after widespread fears of bearishness on Apple because of bad guesses about iPhone X demand, the company's stock has hit a new high-water mark at $183.83 per share.




Just days after Apple's earnings, Apple's stock reached beat its previous high, reaching as high as $184.25, before closing at $183.83. This came just two weeks after the company's stock dipped to $162.12 on a negative analyst report by Morgan Stanley. The price eclipses the previous high of $181.72 set on March 12.

On Tuesday, Apple announced earnings that included $61.1 billion in revenue and 52.2 million iPhones sold, as well as a 31 percent surge in services revenue. The results were officially in line with expectations in terms of revenue, but also quieted analysts and other observers who had been raising the alarm about iPhone sales performance.

Just one week ago, the tech headlines were filled with negative stories about Apple, based on supply chain checks, and about fears that the company would report soft iPhone sales this week.

But days later, that's changed. First, Apple's earnings beat expectations, including strong iPhone sales numbers and huge growth in the services sector. And then, Thursday night, came news that America's most important investor, Warren Buffett, had made a huge bet on Apple during the quarter.

Buffett to the rescue

Buffett revealed on CNBC Thursday night that Berkshire Hathaway had bought 75 million shares of Apple stock in the first quarter, bringing his total position in the company to over 240 million shares. Berkshire spent between $12 and $13 billion on the shares during the quarter, CNBC said.

The purchases put Berkshire Hathaway third among Apple shareholders, behind Vanguard and BlackRock; Berkshire had already bought more stock in Apple than in any other company in 2017.

Buffett told CNBC that "If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States," even though "you can put all their products on a dining room table."

Buffett added that "The idea that you're going to spend loads of time trying to guess how many iPhone X ... are going to be sold in a three-month period totally misses the point It's like worrying about the number of BlackBerrys 10 years ago."

Apple CEO Tim Cook said in a statement to the network that he is "thrilled to have Warren and Berkshire as a major investor."

"On a personal level, I've always greatly admired Warren and have always been grateful for his insight and advice," Cook added.
TomEanantksundaram
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Comments

  • Reply 1 of 34
    maestro64maestro64 Posts: 4,596member
    As apple buy more of itself it drives up those companies position in the Apple, Before we know those 3 company could own over 50% of Apple, They could be scary if they want board position and begin driving apple in the wrong direction.

    I suspect that Apple bough more stock last week when it dip to $160
  • Reply 2 of 34
    andrewj5790andrewj5790 Posts: 270member
    maestro64 said:
    As apple buy more of itself it drives up those companies position in the Apple, Before we know those 3 company could own over 50% of Apple, They could be scary if they want board position and begin driving apple in the wrong direction.

    I suspect that Apple bough more stock last week when it dip to $160
    That can’t be, because we already know Tim Cook is running the company right into the ground... /s
    mwhiteSpamSandwichpotatoleeksoupbaconstangwatto_cobra
  • Reply 3 of 34
    SoliSoli Posts: 8,964member

    I think $197.44 will bring it to a $1T market cap with the current number of outstanding shares as listed by Google.

    My math, in case someone wants to check it:

    $1,000,000,000,000 ÷ ($931,070,000,000 market cap ÷ $183.83) = $197.4395 per share

    edited May 2018
  • Reply 4 of 34
    hexclockhexclock Posts: 573member
    Hopefully they broke a resistance line this time. 
  • Reply 5 of 34
    SpamSandwichSpamSandwich Posts: 31,185member
    maestro64 said:
    As apple buy more of itself it drives up those companies position in the Apple, Before we know those 3 company could own over 50% of Apple, They could be scary if they want board position and begin driving apple in the wrong direction.

    I suspect that Apple bough more stock last week when it dip to $160
    That can’t be, because we already know Tim Cook is running the company right into the ground... /s
    Fire Cook! /s
  • Reply 6 of 34
    gmgravytraingmgravytrain Posts: 773member
    I'm quite surprised with Apple's post-earnings share gains. I thought if I were very lucky, Apple's share price might reach around $170 or so but this much is just incredible. I was ready to accept the increased dividends and not concern myself with anything else. I figured Wall Street was out to get Apple and that the share price wasn't going to increase. Wall Street is so hung up on those FANG stocks that I thought Apple would be hung out to dry. I'm in no hurry to see Apple reach a $1T market cap, especially if it can't hold it. Besides, dividends mean more to me than anything right now because I'm not ready to sell any of my Apple stock.

     What would really put my mind at ease is if Apple would be able to stop that constant doom and gloom chatter that Wall Street throws at Apple. Warren Buffet could really help a lot if he can convince other big investors that Apple is a solid company worth buying.  It's really amazing how such an old guy who doesn't even use Apple products understands the company better than most young investors do.  I suppose he's just a fundamental investor who takes the long-term approach.  Don't ignore a company because it doesn't have double-digit revenue growth.  Don't judge a company by quarter-to-quarter results.

    I'm glad earnings turned out as well as it did and I hope Wall Street doesn't forget when the next quarter's results are ready to come out.  However, I'm sure the nastiness will happen again.  Doesn't it always.
    edited May 2018 elfig2012stevenoz
  • Reply 7 of 34
    d_2d_2 Posts: 55member
    Didn’t I just read on here within the past week that some anal-yst cut the Apple target stock price to $155?

    Agreed with the post above about breaking through a line of resistance, hopefully. Apple is absolutely crushing it from a revenue and profit standpoint.
    watto_cobra
  • Reply 8 of 34
    netroxnetrox Posts: 743member
    Apple is doomed. ™
    anantksundaramstevenozwatto_cobra
  • Reply 9 of 34
    lkrupplkrupp Posts: 7,154member
    maestro64 said:
    As apple buy more of itself it drives up those companies position in the Apple, Before we know those 3 company could own over 50% of Apple, They could be scary if they want board position and begin driving apple in the wrong direction.

    I suspect that Apple bough more stock last week when it dip to $160
    How about thinking positive for once in your life? The Debbie Downers of this world are sad cases.
    edited May 2018
  • Reply 10 of 34
    I'm in no hurry to see Apple reach a $1T market cap, especially if it can't hold it.
    Why do you think reaching $1T matters? And why would holding it matter? The only reason “it matters” is because the share price would be higher but that’s all shareholders want anyway. The market cap reaching $1T is only something to brag about, it doesn’t have an effect on anything else. 
    trashman69baconstang
  • Reply 11 of 34
    SoliSoli Posts: 8,964member
    I'm in no hurry to see Apple reach a $1T market cap, especially if it can't hold it.
    Why do you think reaching $1T matters? And why would holding it matter? The only reason “it matters” is because the share price would be higher but that’s all shareholders want anyway. The market cap reaching $1T is only something to brag about, it doesn’t have an effect on anything else. 
    Milestones are often accomplishments that one could brag about, but it's not absolute, just like when you reach 100k or 1M miles in a car.  Is that something to brag about or just a milestone and fun to see all the numbers rolling over? It's more of a brag for Apple to 1) reach a new post-split record and 2) have that be at closing as opposed to a spike during the day, but I'd still label that as a milestone. And because there's a major psychological component involved (see 99¢ pricing), it could help Apple to have that milestone on record.

    https://www.quora.com/Why-do-humans-celebrate-base-10-milestones
    edited May 2018 MacPro
  • Reply 12 of 34
    SpamSandwichSpamSandwich Posts: 31,185member
    netrox said:
    Apple is doomed. ™
    It’s now a registered trademark:

    Doomed!®️
    watto_cobra
  • Reply 13 of 34
    78Bandit78Bandit Posts: 232member
    Warren Buffett is a very smart man who takes a long-term view of his investments.  He does cash flow analysis in determining value and his main concern is not stock price fluctuations but rather if can the company pay him back with the cash they generate over an extended period.  Mr. Buffet obviously believes Apple's cash flow will continue to be good over the long-term and will likely outperform the market as a whole.

    The talk about momentum and lines of resistance are for short-term investors and day traders.  Mr. Buffett is not one of them.  A $20 fluctuation up or down in the short term is meaningless when someone like Mr. Buffett is anticipating around $2,000 of cash flow over the next 20 years.  The stock price can go up or down wildly based on feelings and hunches and analysts who want to make a quick 5% on the flip; however, it is the long-term value that makes investing sense.  Eventually the underlying cash generating value of the company will be reflected in the stock price regardless of the timing.
  • Reply 14 of 34
    slurpyslurpy Posts: 5,154member
    The vast improvements to every aspect of Apple maps since it launched has been stunning.
    I'm quite surprised with Apple's post-earnings share gains. I thought if I were very lucky, Apple's share price might reach around $170 or so but this much is just incredible. I was ready to accept the increased dividends and not concern myself with anything else. I figured Wall Street was out to get Apple and that the share price wasn't going to increase. Wall Street is so hung up on those FANG stocks that I thought Apple would be hung out to dry. I'm in no hurry to see Apple reach a $1T market cap, especially if it can't hold it. Besides, dividends mean more to me than anything right now because I'm not ready to sell any of my Apple stock.

     What would really put my mind at ease is if Apple would be able to stop that constant doom and gloom chatter that Wall Street throws at Apple. Warren Buffet could really help a lot if he can convince other big investors that Apple is a solid company worth buying.  It's really amazing how such an old guy who doesn't even use Apple products understands the company better than most young investors do.  I suppose he's just a fundamental investor who takes the long-term approach.  Don't ignore a company because it doesn't have double-digit revenue growth.  Don't judge a company by quarter-to-quarter results.

    I'm glad earnings turned out as well as it did and I hope Wall Street doesn't forget when the next quarter's results are ready to come out.  However, I'm sure the nastiness will happen again.  Doesn't it always.
    And when it does begin again, I'm sure you'll be right there with your never-ending sweaty hand-wringing and concern trolling. There's no way Apple can "stop" the doom and gloom chatter, because that chatter generates clicks and eyeballs. Just have some damn faith in the company and stop obsessing about the stock price, which literally comprises 100% of your posts.
    watto_cobra
  • Reply 15 of 34
    eightzeroeightzero Posts: 2,366member
    Time for another split.
    trashman69
  • Reply 16 of 34
    KuyangkohKuyangkoh Posts: 332member
    Analyst are so quiet....did they got fired for guessing it all wrong? Or maybe drawings some liners for the next quarter, hahahaha
    watto_cobra
  • Reply 17 of 34
    slurpyslurpy Posts: 5,154member
    The vast improvements to every aspect of Apple maps since it launched has been stunning.
    maestro64 said:
    As apple buy more of itself it drives up those companies position in the Apple, Before we know those 3 company could own over 50% of Apple, They could be scary if they want board position and begin driving apple in the wrong direction.

    I suspect that Apple bough more stock last week when it dip to $160
    If you actually think that's a possibility, then clearly you don't understand anything about Apple and never have.
    watto_cobra
  • Reply 18 of 34
    analogjackanalogjack Posts: 1,068member
    This makes perfect sense, usually when Apple is doing well stock price goes down, now after months of hearing about the failure of the iPhone X stock price rises.

    even though "you can put all their products on a dining room table." 

    Not everyone has a dining room table that could hold even the 50 odd million iPhones recently sold, never mind all their products.
    edited May 2018 watto_cobra
  • Reply 19 of 34
    TomETomE Posts: 141member
    eightzero said:
    Time for another split.
    Maybe Not.

  • Reply 20 of 34
    crowleycrowley Posts: 5,925member
    Soli said:

    I think $197.44 will bring it to a $1T market cap with the current number of outstanding shares listed on Google.

    My math, in case someone wants to check it:

    $1,000,000,000,000 ÷ (931,070,000,000 outstanding shares ÷ $183.83) = $197.4395 per share

    $931.07bn is the current market cap, not the number of outstanding shares, but otherwise your calculations are correct.
    Soli
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