Bigger bite of Apple
Berkshire Hathaway bought 75m additional Apple Inc shares in the first three months of the year, CEO Warren Buffett told CNBC last week, aggressively ramping up its bets on the iphone maker. Buffett’s Apple commitment over the past two years has surprised many, given his historical aversion to tech companies. Berkshire’s initial investment in Apple was small, suggesting it was made by one of Buffett’s deputies, but with the latest purchase it has grown to a solid 240.3m shares worth $42.5bn.
“If you look at Apple, I think it earns almost twice as much as the second-most profitable company in the US,” Buffett told CNBC.