BUF­FETT BETS ON AP­PLE

Finweek English Edition - - THE WEEK -

Bil­lion­aire in­vestor War­ren Buf­fett’s Berk­shire Hath­away bought nearly 10m shares in Ap­ple in the first quar­ter of the year, a stake that was worth $1.07bn at the end of March. The value of the stake has since fallen to around $921m, Reuters re­ported. Buf­fett has largely shunned in­vest­ments in tech­nol­ogy, although Berk­shire’s big­gest bet on the sec­tor is a $12.1bn stake in IBM, an in­vest­ment that is now more than $1.6bn in the red, Reuters said. Steve Chi­avarone, a port­fo­lio man­ager at Fed­er­ated In­vestors in New York, which owns Ap­ple stock, told the news wire Ap­ple is a “value stock that has the po­ten­tial for big growth”.

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