Business magnate Warren Buffett has acquired shares in Apple worth more than $1 billion (R15,6 billion)

Buffett acquired 9,8 million shares in the tech giant through his company Berkshire Hathaway Inc in the first quarter of the year, a regulatory filing has revealed.

It’s the first investment the billionaire businessman has made in the company, the share price of which has plummeted in recent weeks.

According to a CNN report, Berkshire’s original investment was worth about $1,1 billion (R17,2 billion), but has depreciated significantly in the past four months as Apple stocks have dropped 14% since the beginning of the year.

On Monday, Apple’s share price climbed 2% on the back of the news, enabling the multinational to regain its position as the biggest global company in terms of market capitalisation.

Last week, Apple was overtaken by Google’s parent company, Alphabet, as the company with the largest market value after Apple’s stock plunged below $90 (R1 409) per share.

Buffett has famously avoided investing in technology stocks, having accumulated the majority of his wealth through investments in insurers, financial companies and mega industrial companies such as The Coca-Cola Company.

The only tech company he’s invested in over the years was IBM, an investment worth more than $10 billion.

The Wall Street Journal reports that Berkshire marginally increased its stake in that business in the first quarter.

Berkshire’s investment follows billionaire businessman Carl Icahn’s announcement that he had sold off all of his Apple shares.

Apple’s share price has been losing ground since the announcement of lower-than-expected earnings last month that saw the first quarterly drop in iPhone sales since the smartphone was launched in 2007.

“There is a concern that [Apple CEO] Tim Cook may have lost a handle on near-term demand, and certainly nobody believes the iPhone 7 is going to have tremendously new features that makes everybody go out and want to buy a new phone,” UBS analyst Steven Milunovich told CNBC

BBC reports that Apple has reportedly told Taiwanese suppliers to expect a low number of orders for the iPhone 7.

84 COMMENTS

  1. I simply want to say I am new to blogging and site-building and certainly liked your web site. More than likely I’m want to bookmark your website . You really have amazing article content. Appreciate it for sharing your web page.

  2. MetroClick specializes in building completely interactive products like Photo Booth for rental or sale, Touch Screen Kiosks, Large Touch Screen Displays , Monitors, Digital Signages and experiences. With our own hardware production facility and in-house software development teams, we are able to achieve the highest level of customization and versatility for Photo Booths, Touch Screen Kiosks, Touch Screen Monitors and Digital Signage. Visit MetroClick at http://www.metroclick.com/ or , 121 Varick St, New York, NY 10013, +1 646-843-0888

  3. Hey are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and create my own. Do you require any html coding expertise to make your own blog? Any help would be greatly appreciated!

  4. It’s reallyactuallyin facttrulygenuinely very complexdifficultcomplicated in this busyfull of activityactive life to listen news on TVTelevision, sothustherefore I onlysimplyjust use internetwebworld wide webthe web for that purposereason, and takegetobtain the latestnewestmost recentmost up-to-datehottest newsinformation.

  5. If you wantdesirewish forwould like to takegetobtain mucha great deala good deal from this articlepostpiece of writingparagraph then you have to apply suchthese strategiestechniquesmethods to your won blogweblogwebpagewebsiteweb site.

  6. magnificent points altogether, you simply received a emblem new reader. What may you suggest about your put up that you just made some days in the past? Any sure?

  7. A person necessarily lend a hand to make significantly posts I would state. That is the first time I frequented your website page and so far? I surprised with the research you made to create this actual submit incredible. Excellent activity!

  8. I want to study creative writing in college. As in to become a novelist or possibly screenplays. It doesnt really matter where as long as its an english speaking country. Anybody have any ideas of where would be best?.

  9. Thank you, I have just been searching for information about this topic for a long time and yours is the greatest I have found out so far. However, what in regards to the bottom line? Are you sure concerning the supply?

  10. otvaracie hodiny

    […]we like to honor lots of other world wide web web-sites around the net, even if they aren’t linked to us, by linking to them. Beneath are some webpages worth checking out[…]

  11. I like the helpful information you provide in your articles. I’ll bookmark your weblog and check again here frequently. I’m quite certain I will learn a lot of new stuff right here! Good luck for the next!

  12. Business software

    […]Wonderful story, reckoned we could combine a handful of unrelated information, nonetheless truly worth taking a search, whoa did one particular find out about Mid East has got much more problerms too […]

  13. I am not sure where you are getting your information, but great topic. I needs to spend some time learning more or understanding more. Thanks for excellent information I was looking for this information for my mission.

  14. jimmy choo

    […]we like to honor numerous other online sites around the internet, even though they aren’t linked to us, by linking to them. Beneath are some webpages worth checking out[…]

  15. Someone necessarily help to make severely posts I’d state. That is the first time I frequented your website page and thus far? I amazed with the analysis you made to make this actual put up incredible. Excellent task!

  16. I am very happy to read this. This is the type of manual that needs to be given and not the accidental misinformation that is at the other blogs. Appreciate your sharing this best doc.

  17. Edit after virtually two years: Mattress is actually still storing up excellent. Wonderful buy for a mattress without awful chemicals. It is actually really comfy and looks to be properly made.

  18. satisfyer toy

    […]although internet sites we backlink to below are considerably not related to ours, we really feel they’re in fact really worth a go by, so have a look[…]

  19. bullet massagers

    […]Wonderful story, reckoned we could combine several unrelated information, nevertheless actually really worth taking a search, whoa did one particular master about Mid East has got much more problerms too […]

  20. vibrators

    […]Wonderful story, reckoned we could combine several unrelated information, nevertheless really really worth taking a look, whoa did a single study about Mid East has got additional problerms as well […]

  21. Wonderful goods from you, man. I’ve understand your stuff previous to and you’re just extremely fantastic. I actually like what you have acquired here, certainly like what you are stating and the way in which you say it. You make it entertaining and you still care for to keep it sensible. I can’t wait to read far more from you. This is really a great site.

  22. It’s the best time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I want to suggest you some interesting things or tips. Perhaps you could write next articles referring to this article. I want to read more things about it!

  23. Howdy very cool website!! Guy .. Excellent .. Superb .. I will bookmark your site and take the feeds also¡KI’m glad to seek out so many useful information right here within the put up, we’d like work out extra techniques in this regard, thank you for sharing. . . . . .

  24. Funny Instagram

    […]although websites we backlink to below are considerably not associated to ours, we really feel they may be essentially really worth a go via, so possess a look[…]

  25. текст hermit

    […]we like to honor many other world wide web websites around the web, even when they aren’t linked to us, by linking to them. Below are some webpages really worth checking out[…]

LEAVE A REPLY

Please enter your comment!
Please enter your name here