AAPL Stock: 118.03 ( -0.85 )

Printed from

Russian billionaire buys $100 million in Apple shares

updated 01:17 pm EDT, Tue April 30, 2013

Could boost confidence in Apple stock

The richest man in Russia, Alisher Usmanov, recently bought $100 million in Apple shares, Bloomberg reports. While cautioning that "nothing is eternal," he argues that Apple is a "very promising investment" for the next three years, pointing to the company's plan to return $100 billion to shareholders by 2015. Usmanov's $19.8 billion fortune is based mainly on two websites, Alibaba and, as well as a Facebook investment that yielded over 10 times his initial input.

Apple may need the help of rich investors to restore confidence in its stock. Shares hit $700 before the launch of the iPhone 5, but have since plunged hundreds of dollars, owing to concerns over factors like corporate shakeups, iPhone 5 shipments, and more conservative guidance for its financial results. It remains to be seen if new dividends and share buybacks will attract other major investors.

by MacNN Staff




  1. Sebastien

    Registered User

    Joined: 04-29-00

    The rich get richer. Joy.

Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented