The billion dollar AAPL investment Warren Buffett’s conglomerate Berkshire Hathaway disclosed in an SEC filing a fortnight ago seems to have gone a long way toward restoring investor confidence. Fortune reports that the stock has climbed 9% since the disclosure, taking it back above the $100 mark.

Buffett tends to have that effect on stocks—for example, when the company disclosed a stake in Kinder Morgan in February, shares shot up 11%. Apple’s rise in the past few weeks is no doubt partially the cause of Berkshire Hathaway’s disclosure.

AAPL’s share price dropped sharply after the company’s Q2 earnings report revealing a substantial year-on-year fall in iPhone sales. Sales of 51.1M iPhones were 18% lower than the 61.1M sold in the same quarter the previous year …

Berkshire’s investment may have been seen as particularly significant given that Buffett had been a long-time AAPL skeptic, especially occurring not long after fellow billionaire investor Carl Icahn said that he was totally out of the stock.

A supply-chain report that Apple had ordered production of somewhere in the range of 72M to 78M iPhone 7 units is also likely to have helped the stock continue to climb. An earlier report had suggested that iPhone sales could fall even further as the iPhone 7 lacked any appealing new features.

FTC: We use income earning auto affiliate links. More.

Check out 9to5Mac on YouTube for more Apple news:

You’re reading 9to5Mac — experts who break news about Apple and its surrounding ecosystem, day after day. Be sure to check out our homepage for all the latest news, and follow 9to5Mac on Twitter, Facebook, and LinkedIn to stay in the loop. Don’t know where to start? Check out our exclusive stories, reviews, how-tos, and subscribe to our YouTube channel

About the Author

Ben Lovejoy's favorite gear