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Berkshire Hathaway bought additional 75 million Apple Shares in Q1 2018

05 May, 2018, 01:45 | Author: Samuel Sharp
  • 3 Tech Stock Ideas for Warren Buffett Fans

Investors who do so may be totally missing the point, as Apple boasts a "wide, wide gap" against its peers, said Buffett, 87.

Berkshire Hathaway will release its quarterly report on Saturday.

The rally came after CNBC reported that Berkshire Hathaway bought 75 million shares of Apple during the first quarter and sold virtually all of its shares in IBM.

US stocks rose Friday as shares of Apple hit an all-time high to lead a rally for technology companies.

Berkshire has gone more than two years since a major acquisition, and Buffett said in his annual letter that he wants one or more "huge" non-insurance acquisitions to help him reduce Berkshire's $116 billion in cash and equivalents. Apple sold 52.2 million iPhone units in the Jan-Mar quarter, up 3% year over year.


Buffett disclosed that his company has held around 133 million shares in Apple previous company's record-breaking earnings results was on January 31, 2017.

"It is an unbelievable company", Buffett told the sources. It booked sales of $61.1 billion and grew earnings by 30%. Retailers and most other groups of stocks also were higher. I see how strong that ecosystem is, to an extraordinary degree.

The company had been widely expected to reward investors after repatriating most of its more than $250 billion in overseas cash after the tax overhaul that President Trump signed in December.

Berkshire had $116 billion in cash at the end of past year, so has plenty of spare money to make big investments.

IBM shares are down 0.5% premarket to $141.28.

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