ADVERTISEMENT
BlackRock is loading up on tech company
BlackRock's Apple holdings are worth about $38.4 billion at the current stock price of $119.
Apple CEO Tim Cook.
ADVERTISEMENT
The firm now holds 6.1% of Apple's outstanding shares. That's up from the 5.7% stake it held in the iPhone giant in January 2016.
Apple isn't the only big-name tech stock that BlackRock has a significant stake in. It owns over 5% of each of Facebook, HP, and Microsoft as well.
But Apple is a particular favorite of the BlackRock COO Sue Wagner, who joined Apple's board of directors in 2014.
ADVERTISEMENT
Apple stock reached a 14-month high earlier this week.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
US and French governments are lobbying Nigeria to host their military bases - report
Russian aid arrives in Niger amid growing bilateral ties
Kentucky Derby betting sites 2024: Where to bet on the races online
10 least powerful African passports in 2024
Top 10 African countries with the largest labor force
Video footage of Asian man beating two Africans sparks racism comments online
East Africa’s future in energy shines brighter on the continent
Infinix NOTE 40 Series takes centre stage with all-round fastcharge 2.0