Legendary investor Warren Buffett snapped up 31.24 million Apple shares in the last three months of 2017, while drastically cutting his stake in International Business Machines Corp. (IBM), according to new regulatory filings.
Buffett’s investment firm, Berkshire Hathaway, ended the year with 165.33 million Apple shares, collectively worth some $27.6 billion. Berkshire Hathaway is now Apple’s fourth-largest institutional investor. The firm began buying Apple stock in early 2016.
Meanwhile, Berkshire Hathaway sold off around 35 million shares of IBM in the fourth quarter, and entered 2018 with just 2.05 million shares. The firm began buying up IBM stock in 2011, and at one point held more than 80 million shares.
Read more at the Denver Business Journal: http://bit.ly/2GrP2No
