A year ago, Warren Buffett didn’t have a single share in Apple. Now the billionaire owns 2.5 percent of the company.
Warren Buffett doubled his stake in Apple in January
Berkshire Hathaway now owns 2.5 percent of Apple.
Paul Morigi/Getty Images for Fortune/Time Inc
Peter Kafka covered media and technology, and their intersection, at Vox. Many of his stories can be found in his Kafka on Media newsletter, and he also hosts the Recode Media podcast.
The Berkshire Hathaway CEO said he went on a buying spree in January and now owns 133 million shares in Apple, worth about $17 billion. That’s more than double what he owned at the end of 2016, and up from zero at the beginning of 2016.
Buffett famously insists that he’s not a technology investor, but says he bought Apple anyway, “because I liked it.”
“There’s a vast, untapped market up there,” Buffett said on CNBC, where he disclosed the new purchase and showed off his existing phone — not an iPhone, but a vintage flip model.
When Berkshire first announced that it had bought Apple shares in May 2016, the stock climbed 3.7 percent. It’s up less than 1 percent this morning in pre-market trading.
This article originally appeared on Recode.net.
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