14 DAY TRIAL // A Russian magnate well known for making a hugely profitable bet on Facebook Inc. has invested a handsome sum in Apple at a time when investors are restrained, to say the least.
Apple’s stock has lost a tremendous amount of value since September last year when a single share traded for over $700 (€532).
Today, AAPL is worth $440 (€334) a share, which, for people like Alisher Usmanov, is a good time to buy.
After winning 10 times the amount invested in social networking giant Facebook Inc., Usmanov is looking for the same kind of thrill yet again.
This time around, he acquired $100M (€76M) worth of Apple shares hoping for a rebound under Tim Cook’s lead. If you listen to Donald Trump, Alisher Usmanov’s move is a bad investment.
But if Jack Dorsey’s iWatch prediction is any indication, Apple could return Usmanov’s investment tenfold by releasing its rumored wearable computer sometime this year.
“I believe in the future of this company even after Steve Jobs,” Usmanov tells Bloomberg.
“When the company lost $100 billion of its market value, it was a good time to buy its shares, as the capitalization should rebound.”
Russia’s richest man added, “Nothing is eternal. “But for the next three years I believe Apple is a very promising investment, especially given large dividend payments and buybacks.”
Usmanov is not the type to throw around cash either. He gave $247 million (€188 million) to charity over the course of two years starting in 2010.
“I always thought that one should do all that one can,” Usmanov said.
“It may happen that I won’t leave any heritage at all, but I would prefer to do everything I can to make this world better myself and right now, rather than someone else doing it after me as I don’t know whether he will do it better than me.”