Warren Appleseed

16 May 2016 By Robert Cyran Follow @rob_cyran

Berkshire Hathaway disclosed it bought a $1.1 bln stake in the iPhone maker just ahead of its first revenue decline in 13 years. Apple’s valuation, cash stockpile and brand are attractive. A limping IBM investment, however, should be reinforcing Buffett’s tech aversion.

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Berkshire Hathaway disclosed on May 16 that it owned 9.8 million shares of Apple, a stake worth $1.1 billion as of March 31.

It was not made clear whether Berkshire Chairman and Chief Executive Warren Buffett or one of his portfolio managers made the investment.

Separately, Buffett on May 16 confirmed an earlier Reuters report that he has offered to back billionaire Dan Gilbert’s bid to buy Yahoo.

“I’m an enormous admirer of Dan and what he has accomplished in Quicken Loans‎,” Buffett said. “Yahoo is not the type of thing I’d ever be an equity partner in. I don’t know the business and wouldn’t know how to evaluate it, but if Dan needed financing, with proper terms and protections, we would be a possible financing help.”

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