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April 3, 1997updated 05 Sep 2016 1:03pm

SAUDI PRINCE TAKES BITE OF APPLE

By CBR Staff Writer

Someone out there thinks Apple Computer Corp is a good buy. Saudi Arabian Prince al-Waleed bin Talal says he has taken a five percent stake in Apple, by buying $115m worth of shares over the past few weeks. The prince said that he has been studying technology stocks for some time and he believes Apple could prove profitable once again. Perhaps the purchase was due to Larry Ellison’s reported interest in Apple, or perhaps the prince is merely a collector. In recent weeks, he has also taken five percent stakes in Trans World Airlines and Norwegian Cruise Lines.

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