Apple Stock Surges in Wake of Warren Buffett's Sizable Investment

Has the tech-wary investment wizard finally softened?

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Tech
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Warren Buffett once infamously declared that he doesn’t invest in tech because he doesn’t understand it, but it appears that the octogenarian investment guru is softening his stance: Buffett’s Berkshire Hathaway Inc. recently disclosed that it had taken on 9.8 million shares in Apple, sending the California tech giant’s stock on a 2% surge during premarket trades. BH also disclosed that it had sold 99% of its holdings in Procter & Gamble, retaining just 315K shares in the multinational product manufacturer, while thinning its holdings in Walmart by 1.7%.

Do you think this news bodes well for Apple’s future or is it simply another value buy for Berkshire Hathaway? Let us know in the comments below.

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MarketWatch

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