Time To Sell Apple? Warren Buffett Says ‘No,’ But Al Gore Thinks So – Forbes
Warren Buffett rarely likes technology stocks.
His rationale? Stick with what you know. Buffett readily admits that he does not understand technology so he has avoided investments in the technology sector.
Over the years, there have been exceptions to this rule – including Buffett’s investments in IBM and Microsoft, among others.
Perhaps chief among these exceptions is Buffett’s investment in Apple. Over the past year, Buffett, through his holding company, Berkshire Hathaway, has amassed more than 61 million shares in Apple, making Berkshire a top 10 Apple shareholder with its 1% stake.
Based on Friday’s closing price of $136.66, Berkshire’s stake in Apple is valued at approximately $8.3 billion. According to Berkshire’s annual report released today, Berkshire acquired its Apple stake at an average price of $110.17, which means Berkshire already has generated a paper profit of over $1.6 billion.
Buffett continues to remain bullish on Apple, even as Apple’s share price hit an all-time high earlier this month.
As Buffett continues to sing Apple’s praises, another investor has taken the other side of the bet.