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Warren Buffett Has Doubled Berkshire Hathaway’s Stake in Apple to More Than $18 Billion

Bloomberg:

Berkshire Hathaway Inc. increased its stake in iPhone maker Apple Inc. to about 133 million shares, Chairman Warren Buffett told CNBC. That’s more than twice as much as Berkshire held as of Dec. 31, the billionaire told the cable network in an interview Monday. The stake is valued at more than $18 billion, based on Friday’s closing price of $136.66. […]

“Apple strikes me as having quite a sticky product and an enormously useful product to people that use it, not that I do,” Buffett said, praising Tim Cook, the technology company’s chief executive officer. “He’s been very intelligent about capital deployment.”

According to Recode, Berkshire didn’t have a single share in Apple a year ago:

Buffett famously insists that he’s not a technology investor, but says he bought Apple anyway, “because I liked it.”

“There’s a vast, untapped market up there,” Buffett said on CNBC, where he disclosed the new purchase and showed off his existing phone — not an iPhone, but a vintage flip model.

Monday, 27 February 2017