“Warren Buffett’s Berkshire Hathaway bought more Apple shares before their latest jump to all-time highs,” Evelyn Cheng reports for CNBC. “Berkshire also cut its stake in IBM by 32 percent, or 17.06 million shares, in the third quarter, according to a required quarterly filing with the U.S. Securities and Exchange Commission released Tuesday.”

“Buffett’s conglomerate increased its holdings of the iPhone maker’s stock by 3.9 million to 134.1 million, the filing showed,” Cheng reports. “Apple hit a record high last week and is up nearly 11.2 percent this quarter, following the launch of the iPhone X. The stock has rallied nearly 48 percent this year.”

Read more in the full article here.

MacDailyNews Take: There’s a nice (and smart) vote of confidence in AAPL near all-time highs!

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Warren Buffett’s Berkshire Hathaway boosts Apple stake by 5.42 million shares – August 16, 2016
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Warren Buffett takes shine to Apple – May 16, 2016
Warren Buffett’s Berkshire Hathaway takes new $1 billion stake in Apple – May 16, 2016