Berkshire Hathaway increases Apple position to $1.46B
Warren Buffett's Berkshire Hathaway took advantage of a dip in Apple's share price during the second quarter, increasing its stake in the company to $1.46 billion as of June 30.
Source: Reuters
During the second quarter of 2016, Berkshire Hathaway increased its position in Apple by some 5.4 million shares, putting the investment firm's holdings at 15.2 million shares, according to an SEC filing released on Monday.
As noted by Bloomberg, Buffett's move capitalizes on a series of tough quarters for Apple. During the three-month period ending in June, Apple saw its share prices tumble 12 percent to $95.60 per share, while a contraction in iPhone sales the quarter prior spurred the company's first revenue decline in 13 years.
Berkshire bought in to Apple with a purchase of 9.81 million shares earlier this year, around the same time that activist investor Carl Icahn decided to dump his shares. The move that raised eyebrows as Buffett traditionally steers clear of technology holdings, but it was later learned that deputy investment managers executed the buy.
AAPL was at $109.48 when the markets closed on Monday.
Source: Reuters
During the second quarter of 2016, Berkshire Hathaway increased its position in Apple by some 5.4 million shares, putting the investment firm's holdings at 15.2 million shares, according to an SEC filing released on Monday.
As noted by Bloomberg, Buffett's move capitalizes on a series of tough quarters for Apple. During the three-month period ending in June, Apple saw its share prices tumble 12 percent to $95.60 per share, while a contraction in iPhone sales the quarter prior spurred the company's first revenue decline in 13 years.
Berkshire bought in to Apple with a purchase of 9.81 million shares earlier this year, around the same time that activist investor Carl Icahn decided to dump his shares. The move that raised eyebrows as Buffett traditionally steers clear of technology holdings, but it was later learned that deputy investment managers executed the buy.
AAPL was at $109.48 when the markets closed on Monday.
Comments
Go BRK. Keep the stock please & reinvest the dividends. I only disagree with those who want to give away the farm or the benefits to those who want to beat the system by being leeches. I don't mind welfare or aid, but when they have a better car, cell phone, or free housing & utilities, they have no interest in working. I see it every day in South Georgia. Parasites that are beyond what you might even imagine. At what point do we take them off the system ? I don't see an end in sight here because the local government thinks they should grow, grow, grow and tax, tax, tax. I hope Trump or someone who is wise to this goes into office and there is some kind of freeze on government spending + an automatic reduction of an acceptable amount to cut the desire of government to grow. There is no incentive for government to shrink or for people to look for ways to get off welfare. i am tired of paying for the free ride.
If you live in a "grant city", that is what I call cities that are based upon free grants, I feel sympathy for you as well as for myself. If Hillary goes into office, I am leaving. Passport is ready.
http://www.washingtonpost.com/sf/business/wp/2016/08/13/2016/08/13/tim-cook-the-interview-running-apple-is-sort-of-a-lonely-job/
A few choice quotes:
oops.
Which one?