Warren Buffett’s conglomerate Berkshire Hathaway has purchased more than a billion dollars worth of AAPL stock. An SEC filing (via CNBC) revealed that the fund had purchased 9,811,747 shares worth a total of $1.069B as at the end of the first quarter.
It’s believed that Berkshire Hathaway owned few AAPL shares prior to this move. Warren Buffett said way back in 2011 that the conglomerate ‘held very few in the past and we’re likely to hold very few in the future’ as the company’s long-term prospects were too difficult to predict …
Anirudh Sethi reports that Berkshire Hathaway’s purchase caused the stock to jump by more than $2 this morning. The site notes that Buffett is also exploring investment in Yahoo, and the fund also slightly increased its stake in IBM, suggesting that it may have a greater interest now in tech companies.
The move comes not long after another well-known billionaire investor Carl Icahn said that he was now totally out of the stock. Icahn once owned a few percentage points of the company.
The purchase makes Berkshire Hathaway the 56th largest shareholder in AAPL.
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