Berkshire Hathaway Has Apple Stake

CBJ — Warren Buffett’s Berkshire Hathaway has taken a $1 billion stake in Apple Inc.

Berkshire held 9.81 million Apple shares worth US$1.07-billion as of March 31, according to a filing with the U.S. Securities and Exchange Commission detailing the company’s U.S.-listed stock holdings.

It is not clear who made the investment, Buffett himself or one of his two executive portfolio managers.

It’s believed the investment in Apple may have been made with money from the sale of AT&T Inc stock. Berkshire held $1.6-billion of AT&T at year’s end but lists no investment in the phone company as of now.

The stake taken in Apple increases Berkshire’s commitment to the technology sector, which Buffett has long stayed away from, apart from a big stake in International Business Machines Corp. He has long said he does not understand the tech sector well enough. However, he’s surrounded himself with others who do, and thus the apparent change of heart.

@CanBizJournal

Recommended