Has Apple’s share price finally bottomed out?

“Bulls came out on top Thursday after another volatile session for the key indexes in the stock market today,” Nancy Gondo writes for Barron’s. “The Nasdaq led the charge as hard-hit tech stocks rebounded.”
“The Nasdaq romped 1.7%, the S&P 500 rallied 1.1% and the Dow Jones industrial average added 0.8%. Small caps also fared well as the Russell 2000 surged 1.2%,” Gondo writes. “Apple, Cisco, and Microsoft were among the most active Nasdaq gainers by share volume. The trio also boosted the Dow Jones industrial average.”
“Apple snapped a five-session losing streak, leaving investors wondering if it’s hit a bottom. On Wednesday, it fell to 18% off its Oct. 3 high as it tried to regain its 200-day line. Warren Buffett’s latest 13-F filing showed the billionaire investor added 522,802 shares of Apple,” Gondo writes. “The iPhone maker now represents a 25.77% stake in Berkshire Hathaway’s portfolio, up from 23.84% in Q2. Berkshire owns 5% of Apple’s outstanding shares.”
Read more in the full article here.
MacDailyNews Take: Those who got in at well under $190 have to be smiling today.