Topics

Apple iPhone

Warren Buffett's company buys 9.8 million Apple shares

Warren Buffett's company buys 9.8 million Apple shares

Warren Buffett hasn’t lost his aversion to technology stocks, but the billionaire’s holding company can still buy them.

Buffett’s Berkshire Hathaway Inc. disclosed Monday that it purchased 9.81 million shares of Apple Inc. in the first quarter, an investment reportedly made by another stock picker at Buffett’s Omaha-based conglomerate.

The portfolio manager no doubt saw a buying opportunity: Apple’s stock has tumbled in the last year  because of slowing sales of the technology giant’s iPhone and other devices.

Apple’s stock rose $3.36, or 3.7%, to $93.88 a share Monday in response to news of Berkshire’s stake,...

Loading
72°