Warren Buffet’s Berkshire Hathaway Nearly Quadrupled its Stake in Apple
During the fourth quarter of 2016, investor Warren Buffet bet big on Apple. A filing with the U.S. Securities and Exchange Commission (SEC) today reveals that Berkshire Hathaway now owns more than 57 million shares of the Cupertino-based tech giant.
Buffet nearly quadrupled his stake in the tech giant over the last three months of 2016, ending the year with 57.4 million shares worth roughly $6.64 billion as of December 31. That figure is up from only 15.2 million shares worth about $1.7 billion in the prior quarter.
With AAPL shares trading at $135.01 at the end of trading on Tuesday, Buffett’s chunk is valued at about $7.74 billion.
In the past, Buffett has tended to shy away from tech stocks, but that investing pattern is slowly changing. Last May, Berkshire took its first stake in Apple with a 9.81 million share buy, which was worth more than $1 billion at the time.