- Warren Buffett's Berkshire Hathaway
- The firm holds 31.2 million shares, worth over $5.27 billion at Thursday's prices.
Apple is surging after Warren Buffett's Berkshire Hathaway ups its stake (AAPL)
Warren Buffett's Berkshire Hathaway on Wednesday disclosed it had upped its stake in Apple by 23% last quarter.
Shares of Apple are up more than 2% Thursday after Warren Buffett's Berkshire Hathaway disclosed it upped its stake by 23%.
Berkshire added 31.2 million shares in the fourth quarter, bringing its total stake in Apple to 165.3 million shares, or 3.34% of the company. The entire stake worth is worth $28.2 billion at Thursday's prices.
It's not clear when exactly the firm purchased the shares, as the regulatory filing made public Wednesday, known as a 13F, is only required of firms once a quarter.
Nebraska-based Berkshire, which Buffett has controlled since 1965, is known for its buy-and-hold strategy.
The bet on Apple could prove quite lucrative for Berkshire as Wall Street analysts polled by Bloomberg have an average price target of $191 a share, nearly 12% above its current level.
Apple is up 25% in the past year — 10 percentage points more than the benchmark S&P 500 index.
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