Friday, June 19, 2020

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AAPL: pre-market trading, AAPL just hit its all-time intra-day record high of $355.40 before falling back to $355.30. Gonna be an interesting day. This is Friday, isn't it, going into a weekend?

Saudi breakeven: from "lower for longer," oilprice:

Normally, a forced production cut in U.S. shale would have been enough for a price rebound to levels that would allow the Gulf economies’ budgets to break even.

It is this breakeven that is important to them, not production costs that are notoriously the lowest in Saudi Arabia.

For all these low production costs, Riyadh needs $78.30 a barrel of Brent to clear its budget, and $58.10 a barrel of Brent to clear its current account. And things are not much different for its Gulf neighbors.

Russia: happy with $50-oil. 

OPEC basket, today, link here: flat at $37.70.

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Buffett Spreadsheet

	Airline	Shr Price: 3/31/2020	Dollars: 3/31/2020	Shares	Shr Price: June 19, 2020	Total: June 19, 2020
	DAL	28.53	675,000,000	23,659,306	31.58	747,160,883
	UAL	31.55	675,000,000	21,394,612	40.44	865,198,098
	AAL	12.19	675,000,000	55,373,257	16.92	936,915,505
	SWA (LUV)	35.61	675,000,000	18,955,350	36.46	691,112,047
			2,700,000,000			3,240,386,533
	AAPL	254.29	2,700,000,000	10,617,799	355.42	3,773,777,970
						533,391,437
						3,240,386,533
						16.46%
March 24, 2020		224		10,617,799		2,378,386,881
6/19/2020		355		10,617,799		3,769,318,495
						1,390,931,614