Apple stock reaches highest price ever after Warren Buffett's praise

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The iPhone maker's stock price reached an all-time high today after the famed billionaire investor says one of his companies has purchased more shares of Apple than any other stock.

According to the NASDAQ, Apple's stock price officially reached an all-time high of slightly above its previous record of $180.10 earlier today. While AAPL has been on the rise since plummeting to $150.24 on February 9 according to MacRumors, many are attributing the record high to billionaire investor Warren Buffett.

In a conversation with CNBC among talk of basketball and his annual letter to shareholders, Buffett commended Apple. He revealed that his multinational company Berkshire Hathaway has purchased more shares of Apple than any other stock in the last year, saying that Apple has an "extraordinary consumer franchise":

I like Tim Cook very much. I like their policies. I see how strong that ecosystem is. It's to an extraordinary degree.

Berkshire Hathaway now holds 65.3 million shares of Apple, according to the U.S. Securities and Exchange commission.

MacRumors also notes that while Apple's stock price has technically traded for higher prices than the all-time high seen this morning, this new price "accounts for multiple stock splits that have occurred over the years," and that Apple now has a market capitalization of over $900 billion.

Currently, Apple's stock is hovering around (a still very impressive) $179.64.

Thoughts?

Has Warren Buffett convinced you to purchase a share of AAPL? Do you think he's the cause of the spike in Apple's stock price? Share your thoughts and any questions you have in the comments below.

from iMore - The #1 iPhone, iPad, and iPod touch blog http://ift.tt/2ou9yXc

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