Warren Buffett Just Made a Massive Bet On Apple
May 16, 2016, 03:19 PM
In a vote of confidence for Apple, Berkshire Hathaway disclosed a 9.8 million share stake in the company taken out in the first quarter of this year. The stake was worth $1.07 billion at the end of the first quarter.
Sales of Apple's iPhone fell dramatically in the first quarter of this year and the company's stock hit a new low last Thursday, according to CNN Money, but the investment by Warren Buffett's company has already been a healthy signal for the company.