“The Oracle of Omaha still has a touch for stocks,” Evelyn Cheng reports for CNBC. “Teva Pharmaceutical climbed more than 9 percent in premarket trading Thursday after news late Wednesday that Warren Buffett’s Berkshire Hathaway disclosed a $358 million stake in the drugmaker as of the end of the fourth quarter. The quarterly filing also showed Berkshire increased its holdings of Apple by 23.3 percent. Shares of the iPhone maker climbed 1 percent in premarket trading.”
“The purchase shows the influence of Buffett’s investment deputies, Berkshire portfolio managers Todd Combs and Ted Weschler,” Cheng reports. “One of them — the billionaire investor has declined to identify him — was responsible for the conglomerate’s initial stake in Apple in 2016, and Buffett has added to it since then.”
The 87-year-old Buffett is chairman of Berkshire Hathaway,” Cheng reports, “and his business partner is 93-year-old vice chairman Charlie Munger.”
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MacDailyNews Take: 180 years of experience can spot an undervalued stock from miles away. Heck, in Apple’s case, even we can see it!
Warren Buffett’s Berkshire Hathaway increases Apple holdings by 23.3% to 165.3 million shares – February 14, 2018