Buffett's Apple stock purchase gains $1.1B in six weeks

Buffett's Apple stock purchase gains $1.1B in six weeks

Buffett's Apple stock purchase gains $1.1B in six weeks

The firm headed by mega-investor Warren Buffett almost quadrupled its stake in Apple during the final three months of 2016, a shopping spree that helped propel the company's shares to all-time highs, including new record peaks on Wednesday.

Berkshire had a stake in Southwest Airlines Co. valued at more than $2 billion as of December 31 and more than tripled its Apple holding to about 57 million shares, according to a regulatory filing on Tuesday from Buffett's Omaha, Nebraska-based company.

Now, with AAPL trading near the $135 mark at the close of business today, Berkshire's AAPL stock is worth some $7.74 billion if it still holds the stock. Apple, the largest stock by market cap, has gained 17% since the end of the year and closed at a record high Tuesday.

His comment comes after Berkshire almost quadrupled its stake in Apple last quarter.

Investors like to look at Berkshire's investments for ideas because of Buffett's remarkably successful track record.

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In addition, its online division saw strong growth, rising up over 20 percent in the United Kingdom and double that figure in Germany.

Most believe the initial investment by Berkshire in Apple was by Weschler or Combs. That investment got attention when it was first disclosed a year ago because Buffett has always been reluctant to invest in technology companies. However their decisions are known to be influenced at times by Buffett.

Besides investments the Omaha, Nebraska-based Berkshire owns more than 90 subsidiaries, including insurance, utility and jewelry firms.

"It's quite possible that Warren woke up and began to understand the virtues of Apple that he had been neglecting or, like with Precision Castparts, Todd or Ted had an affinity for Apple that sparked interest from Warren", Russo said. During the past two decades, Buffett has focused more on acquisitions than picking stocks. "More planes are traveling more full".

Monsanto and Sirius did not immediately respond to requests for comment.

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