BUFFETT BETS ON APPLE
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”.