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Daily Update for January 9, 2012
It's the TUAW Daily Update, your source for Apple news in a convenient audio format. You'll get all the top Apple stories of the day in three to five minutes for a quick review of what's happening in the Apple world. You can listen to today's Apple stories by clicking the inline player (requires Flash) or the non-Flash link below. To subscribe to the podcast for daily listening through iTunes, click here. No Flash? Click here to listen.
Warren Buffett hesitant on Apple, tech companies
Multi-billionaire investor Warren Buffett says he still has no plans to invest in technology companies, including Apple, preferring to stick with companies like Coca-Cola because it is "very easy for me to come to a conclusion as to what it will look like economically in five or 10 years, and it's not easy for me to come to a conclusion about Apple." Buffett's latest comments came at the opening of a new cutting tools factory in Daegu, South Korea, in which his investment company Berkshire Hathaway Inc. has a share. Even though he's a long-time friend of Microsoft founder Bill Gates -- the Bill and Melinda Gates Foundation receives around $1.5 billion a year from Buffett -- the 80-year-old investor has never been comfortable with technology companies. He says that, although recent events in Japan mean that technology stocks are depressed and therefore a good buy at the moment, he's sticking with what he knows. In fact, it's only within about the past five years that Apple stocks have out-performed those of Coca-Cola. Hindsight shows that a switch to Apple from Coke five years ago would have made Buffett a much richer man, but with around $50 billion to his name, his foresight seems to work pretty well. While Apple's stock has gone up like a rocket in the past five years, Coca-Cola's has remained fairly stable -- and in the previous five years, Apple's stock was in the doldrums in comparison, and Buffett's choice looked wise. And now, it turns out, even Bill Gates is investing in Coca-Cola via its Mexican bottler Femsa. [Via Electronista]
AAPL could hit $410 according to R.W. Baird analyst
If only this blogger had held onto that Apple stock that was bought for about $8 while dabbling in the market in the late-1990s. Instead the profits from selling it at $27 a share were put into such wise investments as Webvan. The only good thing about my dot com bubble investing period is that only a small chunk of money was set aside to play with and no more was added. On the other hand if I had just had more patience and stayed in Apple, I'd have a very nice chunk of change with it now trading at over $317 per share and likely to go much higher. According to a recent Associated Press article, William V. Power, an analyst with R.W. Baird is projecting that AAPL shares will be trading at as much as $410 before long and he is not alone. Numerous analysts have projected $400+ for Apple and the average of 38 different projections is $370.50. The key to that continued growth according to Power is the iPhone which currently only commands about three percent of global mobile phone sales. As smartphones grab an ever larger stake of the handset market, Apple and its prime competitors, Android and Windows Phone 7 are all likely to see big gains in the next few years and that will certainly help Apple's bottom line and stock price.
Apple shares jump on news of Jan. 27 event
The news that Apple is going to announce something on January 27th has the stock market in a tizzy. At one point this morning, Apple shares were up to $214.16, up $8.23 or about 4.0%. Apple set a 52-week high with a share price of $215.59 on January 5, 2010, up 275.6% over the 52-week low set on January 20, 2009. The Dow Jones Industrial Average, by comparison, was up only .95% shortly after 1 PM ET today, and the NASDAQ index was up about 1.17%. It should be noted that Apple share prices traditionally fall after an announcement, but it will be fascinating to see if AAPL is able to hit a new high prior to the January 27th event. [via MacDailyNews]
