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NewsPoster Apr 30, 2013 01:19 PM
Russian billionaire buys $100 million in Apple shares
The richest man in Russia, Alisher Usmanov, recently bought $100 million in Apple shares, <em>Bloomberg</em> reports. While cautioning that "nothing is eternal," he <a href="">argues</a> that Apple is a "very promising investment" for the next three years, pointing to the company's plan to <a href="">return $100 billion to shareholders by 2015</a>. 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. <br /><br />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.
Sebastien Apr 30, 2013 09:02 PM
The rich get richer. Joy.
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