“Warren Buffett’s conglomerate has increased its stake in Apple — and gotten rid of almost its entire IBM stake — a big move for a legendary investor who rarely bets on tech,” Anita Balakrishnan reports for CNBC.
“Berkshire Hathaway revealed Wednesday that it increased its Apple holdings by 23.3 percent to 165.3 million shares, according to SEC filings, and dumped about 94.5 percent of its IBM holdings, leaving just 2.05 million shares,” Balakrishnan reports. “Last year, Buffett told CNBC that he was more sure about Apple’s future than IBM’s, and that he has continued to put his money where his mouth is (even if he still carries a flip phone).”
Balakrishnan reports, “Before Wednesday’s revelation, Berkshire was already the fourth-largest Apple shareholder, according to FactSet.”
Read more in the full article here.
MacDailyNews Take: A welcome vote of confidence for Apple shareholders (even though it would be better for the company’s buyback plan to have the shares artificially depressed due to the usual fomenters who misrepresent YOY iPhone unit shares by pitting a 13-week quarter against a 14-week quarter while neglecting to mention that salient fact).
Profit from the painfully gullible. — MacDailyNews, December 26, 2017
Warren certainly is.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]