“It was revealed yesterday in an SEC filing that Warren Buffett’s Berkshire Hathaway purchased an additional 5.4 million shares of Apple common stock in the 2nd quarter,” Giovanni DiMauro writes for Seeking Alpha. “Yesterday’s revelation of additional share purchases brings his total share count to 15.2 million.”

“The Warren Buffett Motto: ‘Be fearful when others are greedy and greedy when others are fearful,'” DiMauro writes. “Doesn’t that pretty much sum it all up, folks? Just three short months ago, Apple was plunging to the $89 level. The negative media press was talking non-stop about the demise of Apple, slower iPhone sales, problems in China, etc. In fact, Apple was taking a nice percentage off the Dow and signaling to many the beginning of a possible new market downturn. While some were panicking, Warren Buffett was taking a nice position in Apple.”

“We all know that he likes to buy and hold forever, not caring about the day-to-day movements in the market,” DiMauro writes. “Investors would be wise to buy Apple on weakness and hold for a nice run to $150 or higher.”

Read more in the full article here.

MacDailyNews Note: Apple’s all-time high was set during intraday trading on February 24, 2015 at $133.60 per share.

Warren Buffett’s Berkshire Hathaway boosts Apple stake by 5.42 million shares – August 16, 2016
Apple: Is a surprise coming? – August 16, 2016