Warren Buffett reaps $40 billion from giant Apple stake since March bottom
Gerald Miller | CNBC
An off-brand move to pile into Apple shares might have been Warren Buffett’s greatest trade ever.
Berkshire Hathaway‘s Apple stake — which is now 40% of its equity portfolio — is up a whopping $40 billion since the market bottom in March. The investment in the tech giant played a crucial role in helping the conglomerate weather the coronavirus crisis as other pillars of its business, including insurance and energy, took a huge hit.
Investing in such a high-flyer seemingly defies Buffett’s well-known value investing principles. Berkshire bought its first 10 million Apple shares in May 2016 through one of Buffett’s lieutenants. In the span of four years, the “Oracle of Omaha” ditched his usual aversion to tech and increased his bet to 245 million shares, now worth more than $95 billion, to become Apple’s second largest shareholder, only …continued .
[Source: CNBC News]