Warren Buffett's Company Buys 9.8 Million Apple Shares
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OMAHA, Neb. (CBSMiami/AP) —Warren Buffett's company bought 9.8 million shares of Apple - something that may lead investors to question his long-standing aversion to tech stocks.
Buffett has always avoided technology companies because he said it was too hard to pick which ones would prevail long-term, although he made an exception to that rule to buy a major IBM stake in 2011.
Buffett was also reported to be considering joining a bid to acquire Yahoo. But Buffett told CNBC Monday he would only act as a potential financing partner for Quicken Loans founder Dan Gilbert's bid.
Berkshire Hathaway revealed the new Apple investment Monday in a filing with the Securities and Exchange Commission detailing a number of changes to its $129 billion portfolio.
The new investment might have been made by Berkshire's two other investment managers.
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