Warren Buffett's firm invests $1 billion in Apple
HE'S the man who invests billions and is followed by millions but the legendary investor's latest move has surprised those who watch his every move.
The Wall Street Journal reports that Warren Buffet's firm Berkshire Hathaway disclosed on Monday that it had made a $1 billion bet on Apple Inc. stock earlier this year, boosting the iPhone maker's market value by more than $18 billion.
However the move seemed out of character for the Wall Street legend and as it turned out the suspicions of the cottage industry which follows his every move were spot on - as the decision was actually taken by the two men Buffett had appointed to run the fund - Todd Combs and Ted Weschler.
The pair has shown they do not share Buffet's tendency to shy away from technology stocks and have even also increased the fund's stake in tech giant IBM.