Warren Buffett has taken a $1bn-plus stake in Apple, just four years after admitting he did not know how to value technology companies like the iPhone maker.
Disclosure of the rare tech bet by the renowned value investor follows a one-third slump in Apple’s shares since last summer, and underlines Wall Street’s worries that the world’s most valuable company is facing a low-growth future.
Shares in Apple jumped 3.5 per cent to $93.67 early yesterday afternoon after Berkshire Hathaway, Mr Buffett’s holding group, divulged it had bought 9.81m shares in a regulatory filing.
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