“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!
SEE ALSO:
Warren Buffett’s Berkshire Hathaway boosts Apple stake by 5.42 million shares – August 16, 2016
Apple’s historic stock surge could confirm what Warren Buffett already knew – July 28, 2016
Buffett saved $460 million by waiting to swap AT&T for Apple – May 16, 2016
Warren Buffett takes shine to Apple – May 16, 2016
Warren Buffett’s Berkshire Hathaway takes new $1 billion stake in Apple – May 16, 2016
Come back to the fold Carl!
Buffet bought pretty much when iCahn sold…who’s smil’in?
AAPL longterm
So glad Carl missed out. He’s such an arrogant ass
Welcome to the club, Warren Buffet.
What took you so long?
This explains the runup in AAPL share prices as the herd follows every Buffet move. Obviously Buffet’s deputies see value in the cash horde that Cook is sitting on, because investors have no other reason to be optimistic about a formerly diversified company that now refuses to make a full range of competitive products.