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Buffett says Apple stake boosted to more than US$18 billion

Bloomberg Published on Tue, Feb 28, 2017 / 8:09 AM GMT+8

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NEW YORK (Feb 28): Berkshire Hathaway Inc. increased its stake in iPhone maker Apple Inc. to about 133 million shares, Chairman Warren Buffett told CNBC.

That’s more than twice as much as Berkshire held as of Dec. 31, the billionaire told the cable network in an interview Monday. The stake is valued at more than US$18 billion ($25.3 billion), based on Friday’s closing price of US$136.66.

Berkshire has been accelerating stock purchases in recent months, adding to stakes in the largest U.S. airlines and Apple. Buffett said the 2017 Apple purchases were made before the company posted quarterly earnings on Jan. 31, a report that pushed shares higher than he wanted to pay.