Warren Buffett has taken a $1bn-plus stake in Apple, just four years after admitting that he did not know how to value a technology company like the iPhone maker. News of the rare bet on a tech company by the renowned value investor follows a one-third slump in Apple's shares since last summer, and underlines Wall Street's worries that the world's most valuable company is facing a low-growth future. Shares in Apple jumped 3.5 per cent to $93.65 in early afternoon trading after Berkshire Hathaway, Mr Buffett's holding company, disclosed in a regulatory filing that it had bought 9.81m shares.
EURUSD seen within a tight range in early trade, between 1.1309 -24. The previous break of 1.1300 has failed to garner any downward momentum, and traders should resign themselves to a sideways range of 1.1270 - 1.1360 for the time being, though bias is seen slightly towards the downside. A lower EURGBP has also been contributing to EURUSD weakness, with medium term positions pared ahead of the nearing Brexit referendum , though it remains more than one than one month away. Support is not seen till 0.7760-70, followed by 0.7730-40.
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