Russian Billionaire Buys $100 Million in Apple Stock

With Apple's stock price at its lowest levels since 2011, Russian billionaire Alisher Usmanov -- one of the main investors behind the Digital Sky Technologies investment group -- has purchased $100 million of Apple stock, reports Bloomberg.

Usmanov

“I believe in the future of this company even after Steve Jobs,” Usmanov, 59, said in an interview at Bloomberg’s Moscow offices, referring to Apple’s late co-founder. “When the company lost $100 billion of its market value, it was a good time to buy its shares, as the capitalization should rebound.”

Usmanov is estimated to be Russia's richest man with a fortune worth $19.8 billion.

Top Rated Comments

Klae17

169 months ago

In Russia, Apple stock buys you!

Score: 27 Votes (Like | Disagree)

adildacoolset

169 months ago

I honestly think that the people who claim that apple are doomed, are stupid. Seriously, even thing the profits this auareter weren't the highest, ask yourselves this: what product was launched in this quarter? Nothing! No announcement this quarter. So how can someone realistically expect record-breaking charts?

Score: 14 Votes (Like | Disagree)

Karma*Police

169 months ago

Buy low, sell high. Sounds like a winning strategy. Seems like such a simple concept, yet the majority of folks do the opposite.

Score: 7 Votes (Like | Disagree)

IJ Reilly

169 months ago

The investment gurus are out in full force in this thread again! Tell me, why are you guys here rather than making millions investing in stocks? And no, "I don't have much to invest" isn't an answer. You know better than analysts do. Convince others to invest their money and take a cut. You can do it! :rolleyes:

Rule #1: Those who talk about what they are investing in the most, are doing it the least.

There is no Rule #2.

Score: 5 Votes (Like | Disagree)