Warren Buffett’s Berkshire Hathaway takes a bigger bite of Apple
As it accelerates stock purchases, Berkshire Hathaway has doubled its holding in iPhone maker Apple since December 31
Berkshire Hathaway has increased its stake in iPhone maker Apple to about 133-million shares, says chairman Warren Buffett. That’s more than twice as much as Berkshire held on December 31, the billionaire told CNBC cable network in an interview on Monday. The stake is valued at more than $18bn, based on Friday’s closing price of $136.66. Berkshire has been accelerating stock purchases in recent months, adding to stakes in the largest US airlines and Apple. Buffett said the 2017 Apple purchases were made before the company posted quarterly earnings on January 31, a report that pushed shares higher than he wanted to pay at the time. "Apple strikes me as having quite a sticky product and an enormously useful product to people that use it, not that I do," Buffett said, praising Tim Cook, the technology group’s CEO. "He’s been very intelligent about capital deployment." Buffett said he accumulated about 123-million Apple shares and one of his deputies acquired the rest. He didn’t identif...
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