Apple’s historic stock surge could confirm what Buffett already knew

The historic surge in Apple Inc.’s stock on Wednesday is finally giving investors something other than declining iPhone sales to talk about, and could confirm what Warren Buffett may have believed several months ago, that a bottom has already been seen.

The stock  ran up 6.5% to close at a three-month high. The split-adjusted price gain of $6.28 was the second-biggest one-day rise in Apple’s history, in the wake of the technology giant’s better-than-expected quarterly results. It was just behind the biggest-ever gain of $7.10 on April 25, 2012.

(A 7-for-1 stock split went into effect on June 9, 2014, meaning the actual April 25, 2012 price gain was really $49.72).

Wednesday’s rally comes at a time when some analysts were starting to believe the worst was behind the company.