Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
After a couple of years in the doldrums, shares of Apple (AAPL) are finally on the rise again, adding $100 billion of value in three months thanks to renewed excitement about the iPhone, as well as some savvy financial moves.
Apple’s stock, up 20% in the past three months, rose to more than $630 on Thursday. That’s the highest level since the fall of 2012, when the stock reached its all-time high of $705.07.
On a psychological level, investors also seem pleased with Cook’s decision to split Apple shares seven-for-one, which has no real economic impact but will lower the price per share from the current level to about $90. The record date for the split takes effect after the market closes June 2; trading on a split-adjusted basis begins June 9.
The stock rise began in late April when Apple reported much better than expected iPhone sales for the first quarter. The sales number of almost 44 million was both 6 million more than a year earlier and 6 million more than Wall Street expected.
Most analysts were forecasting a blasé quarter, since the company hadn’t introduced any new products, setting the stock up for a strong gain when results exceeded expectations. Original post at finance.yahoo