Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Berkshire Hathaway more than doubled its Apple holding in January

Monday, February 27, 2017 8:03
% of readers think this story is Fact. Add your two cents.

Warren Buffett’s investment conglomerate Berkshire Hathaway Inc (NYSE:BRK.B) has more than doubled its holding in tech giant Apple Inc (NASDAQ:AAPL) so far this year.

At the end of 2016, Berkshire revealed it held around 57mln shares in Apple, but Buffett told CNBC that the group went on a spending spree in January and topped up its stake to around 133mln shares.

That’s equivalent to an interest of just over 2.5% in the tech firm, worth a cool US$17bn at current market value.

It also means that Apple is now one of Berkshire’s largest investments, second only to the company’s long-term stake in The Coca-Cola Company (NYSE:KO).

In the past, Buffett had been known to avoid tech stocks given his mantra of ‘invest in what you know’. Asked why he loaded up on Apple at the start of the year, he simply replied: “Because I liked it!”

Although he’s still using an old-school flip phone, Buffett likes Apple’s products and praised the company’s consumer-retaining power.

“Apple strikes me as having quite a sticky product, and an enormously useful product to people that use it,” the billionaire investor told CNBC.

Apple shares opened modestly higher at US$137 on Monday.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.