>> Bilionaire investor, Warren Buffet, has a big appetite for Apple. Berkshire Hathaway upped its investment to Apple by 23% to 165 million shares in the last three months of 2017, making it its biggest holding just beating out Wells Fargo. Apple jumped over 3% on Thursday following the news, which came in a regulatory filing.
Reuters breaking view columnist, Rob Cyran.>> It's not necessarily a great vote of confidence in Apple for the markets. It's not as if the market's gonna say, my goodness, Buffet loves Apple, let's go invest in that company. It's more that they've been able to recognize that is a brand that people seem attached to and people are going to continue to buy Apple phones.
It's also a view that the stock is relatively cheap. As opposed to most technology companies, Apple has a ton of cash on their books, still. And they're earning a lot, and they're not going to go away any time soon.>> Buffett is known for shunning a lot of tech stocks he said he didn't understand, but has said that Apple has a sticky product that's useful to people.
While Apple stock is off its peak reached in mid January, it's climbing back fast this week. Buffett predicted last year that Apple would reach a trillion dollar valuation before his own company, Berkshire Hathaway. That would make it the first company to hit such a milestone. And with a valuation of over $850 billion today, the worlds most valuable listed company isn't too far from the mark.