Berkshire held 15.2 million shares the company as of June 30, according to a regulatory filing Monday from the billionaire’s Omaha, Nebraska-based company. He has said that investments of less than $1 billion are likely to be the work of Ted Weschler or Todd Combs, who each handle about $9 billion for Berkshire. That product launch could possibly boost the value of Apple’s shares as the new version of the smartphone is eagerly awaited by fans of the company. Wal-Mart has been in Berkshire’s portfolio for more than a decade.
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Apple’s stock has risen 2 percent since the beginning of the year.
“Apple’s stock came down substantially in the second quarter”, David Kass, a professor at the University of Maryland’s Robert H. Smith School of Business who has taken students to meet Buffett, said in a phone interview.
Warren Buffett’s firm is doubling down on Apple.
The company’s first-ever investment in the technology sector was five years ago when Berkshire bought a stake in International Business Machines Corp. valued at over $10 billion.
It also cut its Wal-Mart investment to 40.2 million shares at the end of June from 55.2 million shares in March. The firm cut its stake in Suncor Energy, Canada’s largest crude oil producer by 26%. Some suggest that not selling nor buying more shares of American Express is a result of confidence in the company, but there also appears to be a reduced margin for profits, which is why Buffett moved towards Apple.
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Kraft Heinz remained Berkshire’s biggest holding, making up 22% of Warren Buffett’s company’s holdings, according to Bloomberg.
