It was reported yesterday that Apple’s (NASDAQ: AAPL) Senior Vice President of Industrial Design Jony Ive has bought a posh $17 million home on San Francisco’s “Gold Coast”.
The brick home built in 1927 and designed by Willis Polk & Co., spreads 7,274 square feet over five levels, boasts six bedrooms, six fireplaces, eight full bathrooms plus one half bath, an oak-paneled library and courtyard garden. There is a two-bedroom, one bath apartment also located on the house’s lower level for the staff.
Jony Ive, previously living in San Francisco with his wife and children, will be moving in the neighborhoods of Danielle Steel, who owns the 55-room Pacific Heights Neighborhood landmark Spreckels Mansion.
The Wall Street Journal reported that according to people familiar with the purchase, the house was originally listed for $25 million and sits on one of the most exclusive blocks in San Francisco.
While Apple’s senior design executives are purchasing extravagant properties, Apple investors could be heading into a trap of being greedier and losing their money whilst keeping the stocks amid stiff competition which may convince professional investors to sell the stocks before a non-declared product launch.
Apple Inc.’s stock is up 67% from the beginning of the year and more than 16% in recent weeks since missing Wall Street expectations only two months ago. It is fractionally short of $680, its all time high price. It may be good for investors but it may also be too good to last for long.
No comments:
Post a Comment