Third Point Loeb Buys Stake In Apple, Google, Cisco

Posted on May 16 2012 - 2:21pm by Editorial Staff

Yahoo’s recent CEO Thompson resignation seems not much enough for Third Point Daniel Loeb, Loeb bought up its stake in three new technology companies besides Yahoo: Apple, Cisco and Google, according to an SEC filing, Bloomberg reports.

Third Point now has 360,000 shares of Apple stock, accounting to $217 million, 5 million shares of Cisco and around 280,000 shares of Google. Furthermore, Loeb also increased its Yahoo shares unit, with current totalling its stake to 70.5 million (valued little more than $1 billion).

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.