The world’s largest asset manager is loading up on Apple
AP
Apple CEO Tim Cook
BlackRock, the world’s largest asset manager, has boosted its stake in Apple to 322 million shares, according to a SEC filing.
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.
BlackRock’s Apple holdings are worth about $38.4 billion at the current stock price of $119.
Apple isn’t the only big-name tech stock that BlackRock has a significant stake in. It owns over 5% 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.
Apple stock reached a 14-month high earlier this week.
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