Apple Stock Surges in Wake of Warren Buffett's Sizable Investment
Has the tech-wary investment wizard finally softened?
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.
