Warren Buffett tripled investment in Apple shares in Q416 to 57.36 million shares

“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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  1. 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.

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