Warren Buffet to be optimistic about Apple’s long-term performance. His company, Berkshire Hathaway, nearly quadrupled its investment in Apple in 2016.
Now Berkshire owns more than 57 million shares, which at current prices are worth close to $8 billion, up from about $2 billion last summer, according to filings with the Securities and Exchange Commission.
Thus far, Buffet probably is not regretting his decision—recently Apple posted a record-breaking quarter in which the company generated more than $78 billion, driven by over 77 million iPhones sold.
Services—which include Apple Watch and iCloud—neared $7 billion for Apple, proving it’s an increasingly important component of Apple’s overall business. And the company may add something to its product portfolio this year.