Products are selected by our editors, we may earn commission from links on this page.
Billionaire investor Warren Buffett is apparently a really big fan of tech giant Apple, so much in fact that he’s bought a significant amount of their stock.
Everyone knows Warren Buffett as the billionaire investor who has made plenty of big investments while also making some wild bets on the NCAA Tournament. Not surprisingly, the business mogul is a pretty big fan of Apple.
During an interview with CNBC on Monday, Buffett talked about his company, Berkshire Hathaway, and their impressive investment in the tech company. According to Buffett, Berkshire Hathaway currently owns around 133 million shares of Apple, with those shares worth more than $17 billion given the current price of Apple stock.
Berkshire Hathaway’s ownership in Apple makes this the third-largest holding for the conglomerate, putting it just behind Kraft Heinz and Wells Fargo.
“We bought a lot more Apple after year-end,” Buffett said according to CNN’s Paul R. La Monica. He added Berkshire has not bought any additional shares since the company reported earnings on January 31 because the stock has shot up significantly since then.”
It has been a strong past year for Apple stock. A year ago as of Tuesday, Apple’s stock was at $96.69 per share. Now, Apple’s stock has gone up to over $136 per share, an increase of over 40 percent. It makes more sense as to why Buffett is so high on Apple, because the tech company continues to solidify its position in the market.
There’s no telling how long this run of success will last for Apple, but Buffett and Berkshire Hathaway seem extremely bullish on the future of the company’s stock.
