Warren Buffett picks Apple
Apple’s Wall St fortunes have received a boost from veteran investor Warren Buffett.
His Berkshire Hathaway took a 9.8-million-share stake in the firm at the start of the year, news that boosted Apple's stock two per cent before trading on Monday. Buffett traditionally limited his exposure to tech stocks – he holds an 8.59 per cent stake in IBM, a holding that resulted in a £2.9bn loss at the end of 2015. Buffet is also reported to funding a consortium interested in buying assets of Yahoo!. Back on Apple, billionaire Carl Icahn said last month he’d cashed out his stock, blaming performance in China. That, plus poor falling second-quarter revenue helped tug down Cupertino’s shares. ®