The world's largest asset manager is loading up on Apple

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 favourite 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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