“Warren Buffett’s Berkshire Hathaway bet big on Apple Inc. stock and may have made as much as $1.1 billion in the first weeks of 2017,” Gina Hall reports for Austin Business Journal.

“Berkshire Hathaway disclosed in a filing Tuesday that it now owns 57.36 million shares of Apple as of Dec. 31, up from a 15.23 million-share stake as of Sept. 30,” Hall reports. “Apple stock was up 2.5 percent during the fourth quarter and has since shot up 17 percent. By comparison, the Dow Jones Industrial Average gained 3.8 percent this year to date.”

Hall reports, “Buffett’s stake in the Cupertino, California-based company was worth nearly $6.7 billion as of Dec. 31, 2016, and would be worth more than $7.7 billion today if Berkshire still holds the shares.”

Read more in the full article here.

MacDailyNews Take: Booyah for Berkshire!

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Warren Buffett’s Berkshire Hathaway takes new $1 billion stake in Apple – May 16, 2016