Warren Buffett's biggest holding? Big revelation made ahead of Berkshire AGM

Robyn Valdez
May 5, 2018

In fact, during the first quarter Buffet's Berkshire Hathaway holding company purchased 75 million shares of Apple at an unknown price. IBM's stock price fell about 1% after the news.

With a blend of wisdom and common sense, Buffett is more than just one of the most successful investors in American history.

Apple's stock rose to as much as US$179.14, just short of its US$179.26 record close on January 18 and shaking off a sell-off of more than 10 percent earlier this month following a lackluster quarterly report.

As is the case with all his investments, Buffett said he's looking at the long term and wasn't particularly anxious about whether Apple would hit various sales targets in the first quarter.

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With Apple (AAPL) stock back to record-high levels, speculation is rising that the consumer-electronics giant soon could become the first company to reach a market value of $1 trillion.

Friday's rise was the stock's second significant gain this week after the Cupertino, California-based company surprised Wall Street on Tuesday with resilient iPhone sales and quarterly results that topped expectations.

Berkshire Hathaway now owns an estimated 240.3 million Apple shares, currently worth about $42.5 billion United States dollars.

Apple reported $61.1 billion in revenue for the March quarter, up from $52.9 billion a year ago, and promised $100 billion in additional stock buybacks.

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Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.B), likes to say that his ideal holding period is "forever". "You are very, very, very locked in, at least psychologically and mentally, to the product you are using".

Berkshire had $116 billion in cash at the end of previous year, so has plenty of spare money to make big investments.

There may also be another reason for the investment: Berkshire's cash pile of $116 billion. Berkshire Hathaway's real-estate brokerage division reported $220 million in profits in 2017, according to an annual report, down from $225 million in 2016.

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Other reports by Info About Network

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