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                        Buffett Buys Big Slice of Apple

   by VOA News

   Billionaire investor Warren Buffett appears to be giving the slumping
   Apple stock a vote of confidence.

   The company he runs, Berkshire Hathaway, bought just over 9.8 million
   shares in the tech giant, according to regulatory papers released
   Monday.

   The average price paid was $109 a share.

   Apple shares are down 14 percent so far this year, and Buffett himself
   has already taken a loss on the purchase as shares are currently valued
   at just over $90.

   The shares did get a 2 percent bump in early trading Monday on the
   Buffett news.

   The billionaire investor has typically eschewed tech stocks, opting
   instead for blue chip companies like Kraft Heinz, Wells Fargo and
   Coca-Cola, among others.

   Despite the purchase valued at nearly $1 billion, Buffett's exposure to
   Apple is relatively small by his standards.

   He also has holdings of IBM, which he has been accumulating over the
   past several years, and he is reportedly backing a bid to buy Yahoo.

   Buffett's move is the opposite of investor Carl Icahn, who recently
   sold his firm's entire stake in Apple. Icahn was reportedly concerned
   about the company facing stiff competition in China's growing market.

   The big purchase and subsequent stock boost make Apple, at least
   temporarily, the most valuable company in the world, displacing
   Alphabet, which is the parent company of Google.
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   [1]http://www.voanews.com/content/mht-buffett-makes-big-bet-on-apple/33
   32211.html

References

   1. http://www.voanews.com/content/mht-buffett-makes-big-bet-on-apple/3332211.html