Berkshire Hathaway Got 75 Million Worth Of Apple's Shares In 1st Quarter

Taking care of business - BH style

Taking care of business - BH style

Warren Buffett shared an investment story from 1942, when he was 11 years old, that's helped inform all of the decisions he's made during his legendary career. At current prices, the stake is worth more than $44 billion.

In an interview with CNBC on Monday, Buffett said his company, Berkshire Hathaway, had bought more Apple shares than any other stock over the past year.

For Warren Buffett, CEO of Berkshire Hathaway, which owns Geico, that prompts the question: what does this mean for vehicle insurance?

Buffett has said he looks at Apple like a consumer products company with a strong competitive position, rather than as a tech company.

The "requirement will produce some truly wild and capricious swings in our GAAP bottom line", Buffett said in his annual letter to shareholders released in February.

Meanwhile, Buffett says that promoting two executives to oversee most of the companies businesses hasn't really changed his routine much. Recently, Berkshire nearly sold out its entire investment in IBM Corp. and at the same time bought more Apple shares.

Billionaire Warren Buffett says it is not likely that the U.S. and China will come to loggerheads on trade, saying the two countries would avoid doing "something extremely foolish".

Tiger cub rescued listed in good condition
Yesterday's find makes it the 12th tiger confiscated by law enforcement that the zoo has cared for in the last decade. The tiger was seized and is now living at the San Diego Zoo Safari Park with another tiger that has the same age.

During the Berkshire Hathaway annual shareholder meeting in Omaha exclusively live streamed on Yahoo Finance on Saturday, Buffett opened with an anecdote about purchasing a stock with a little more than $100 back in 1942.

Buffett discussed first quarter earnings ahead of Saturday's Q&A, explaining the new accounting rule affecting Berkshire's equity holdings, which he said will produce wild swings in quarterly earnings. "And I was wrong on the first one (IBM), and we'll find out whether I'm right or wrong on the second (Apple)", Buffett had said a year ago.

The meeting gives shareholders a chance to evaluate Buffett and Munger's health for themselves, said Andy Kilpatrick, who has followed Berkshire for years while writing and updating "Of Permanent Value: The Story of Warren Buffett".

The technology giant rose 4.1 per cent to US$184.15 ($262.36), topping its previous high of US$183.50 and placing it roughly US$20 per share short of a US$1 trillion market cap.

There may also be another reason for the investment: Berkshire's cash pile of $116 billion.

Apple reported US$61.1b in revenue for the March quarter, up from US$52.9b previous year, and promised US$100b in additional stock buyback. In Friday trading, the Class A shares closed at$292,600, and the Class B shares at $195.64.

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