Topics

Berkshire Hathaway Inc.

Apple's latest innovation ... a big stake for Berkshire

Investors might question Warren Buffett's long-standing aversion to tech stocks after his Berkshire Hathaway bought 9.8 million shares of Apple.

Buffett has always avoided technology companies because he said it was too hard to pick which ones would prevail long term, although he made an exception to that rule to buy a major IBM stake in 2011.

The stake comes with the company's shares under considerable pressure. Billions in value have been wiped from the books since Apple reported a sizable drop in iPhone sales in late April.

Shares, down 15 percent over the past month, jumped nearly 4 percent Monday.

Buffett was also reported to be considering joining a bid...

Loading
55°