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

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Klae17

83 months ago

In Russia, Apple stock buys you!

Rating: 27 Votes

adildacoolset

83 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?

Rating: 14 Votes

Karma*Police

83 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.

Rating: 7 Votes

carestudio

83 months ago

Just invest 10% of his money on me, then I would be extremely happy :)

Rating: 5 Votes

Kissaragi

83 months ago

Sounds like a wise move

Rating: 5 Votes

roadbloc

83 months ago

Rating: 5 Votes

IJ Reilly

83 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.

Rating: 5 Votes

Shrink

83 months ago

Ptooey!

Pin money.

A mere bagatelle.

Money found in my couch cushions.

Wait until the news hit about MY stock purchase.

I can say no more now...:cool:

Rating: 4 Votes

Cybernanga

82 months ago

You have money buried in your garden!!??:eek:

Not that I would do anything, but if you could see yourself clear to PM me your address, that would be great!

Not that I would do anything.

Really...

I wouldn't kid you...just your address.

But PM...don't trust anyone else but me!:D

Don't be fooled, he just wants you to dig up his garden for free, so he can plant potatoes ;)

Rating: 4 Votes

Shrink

83 months ago

100m to someone with 19b is like someone with 19m investing 100,000.

Or, in my case, it would would be like someone with $190.00 investing $1.00.

Just trying to bring it down to earth...:p

Rating: 4 Votes

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