BofA Securities analyst Wamsi Mohan reiterated a Buy rating on Apple Inc (NASDAQ:AAPL) with a price target of $230.
During the fiscal second-quarter earnings call, management announced that the board had authorized an additional $110 billion for share buybacks, the largest in the company’s history and ahead of Mohan’s $90 billion expectations. Apple raised its dividend by 4% to $0.25 per share in the quarter.
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The analyst also flagged that at Berkshire Hathaway Inc’s (NYSE:BRK) (NYSE:BRK) annual general meeting, Warren Buffett elaborated on Berkshire Hathaway’s reduced stake in Apple from $174.3 billion (end of December) to $135.4 billion (end of March) implying sale of close to 115 million shares in the quarter.
Buffett hinted at tax reasons for his decision to cut his stake in Apple and noted that he expects Apple ...