Tuesday, 17 May 2016 03:37

Berkshire’s Buffett buys up big: $1b worth of Apple shares

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Billionaire Carl Icahn may have cashed out of his Apple shares, but the world's wealthiest investor Berkshire Hathaway’s Warren Buffett knows you need to buy low and sell high.

There’s been plenty of Apple ‘doom and gloom’ stories of late, where journalists extrapolate how Apple will perform based on a single quarter in which iPhone sales and revenue dropped.

It has also led some of Apple’s investors to bail on the company, factors which have conspired to keep Apple’s share price lower.

Apple stock is currently down about 30% off its 52-week high.

But now comes the news that legendary investor, Warren Buffet, who has traditionally avoided tech stocks because of an admitted lack of understanding, has invested nearly $1 billion into buying Apple’s share price when it is low.

More below, please read on. 

Already, ’initial trading’ reports from Market Watch suggest that Apple’s stock price ‘surged’ more than 4% on the news that Buffett had bought nearly 10 million AAPL shares, which is where it is at the time of writing.

However, whether Apple will continue to rise on the back of Buffett entering the fray, or not, is yet to be seen.

Until then, one billionaire’s trash is another even richer billionaire’s treasure!

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Alex Zaharov-Reutt

One of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

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