Berkshire Hathaway bought a stake of US $ 1,000 million in Apple – The Wall Street Journal Americas

Monday, May 16, 2016 12:31 EDT

Berkshire Hathaway Inc, <-.! -> BRK.B 0.32 % <- -> the firm led by Warren Buffett, took in the first quarter of this year a position of US $ 1,000 million in <- -> Apple Inc, AAPL 3.71 % at a time when technology giant’s actions are being battered by the slowdown in iPhone sales.

the legendary investment firm reported owning at 31 March 9.81 million Apple shares, at a value of US $ 1,070 millions. However, the value of that investment declined sharply after last month Apple will report its first drop in quarterly revenue since 2003.

Buffett, who for years avoided technology stocks and professed not to understand the sector, it has been argued that it is difficult to defend its competitive advantages. Buffett’s wealth has been built on investments in insurance companies and financial and industrial companies, including household names such as <- -> Coca-Cola Co <-.! -> KO 0.60 % and American Express Co <-.! -> AXP -0.08 %

His firm, however, has not prevented altogether technology. In 2011 he bought a US $ 10,000 million in shares <- -> International Business Machines Corp . IBM 1.18 % . in the first quarter, Berkshire increased their participation slightly

According to information known in the past hours, Berkshire would also support a consortium that would be competing for the assets of Internet <- -> Yahoo Inc YHOO 2.74 % according to Reuters and other media, this consortium include the founder of Quicken Loans Inc ., Dan Gilbert. This would mark another investment of Berkshire on an old name technology.

Apple, Berkshire probably saw a buying opportunity as stocks fell sharply from highs last year, as the company is struggling to sustain increased sales following the introduction of its smartphones with larger screens in late 2014. the new 2015 models have not garnered much enthusiasm among consumers.

the action of Apple who last July was trading above US $ 130, he closed the first quarter with US $ 108.99 and continued to fall. The action had a recovery in morning trading by investing Berkshire, up 1.8% to US $ 93.17. The

market value of the company is approximately US $ 510,000 million, according to FactSet.

The positions of Berkshire were disclosed in a 13F form submitted by the company to the Commission on Securities and Exchange States States, a quarterly requirement for investors who manage more than US $ 100 million. The report details the number of shares and value of each share at the end of the quarter, so it is not clear whether the company Buffett has continued to buy shares since then.

The investment Berkshire Apple- the only new position taken by the firm in the quarter-occurs after the departure of another well-known investor, Carl Icahn, who last month said it had sold its large stake in the company on the block. At that time he told CNBC that Apple is still a large company but is no longer a safe bet as an investment option. Icahn made his initial investment, reported at around US $ 1,500 million in 2013. He later bought more shares and called the company to boost its share buyback.

At IBM, Berkshire bought 198.853 shares in the first quarter, bringing the total value of its position amounts to US $ 12,300 million. IBM is one of the four major investments Berkshire, along with Kraft Heinz Co . KHC 0.87 % Wells Fargo WFC 0.06 % <- -> & amp!; Co. and Coca-Cola Co. Those three shares were unchanged in the first quarter

Berkshire continued betting on. Phillips 66 <- -> PSX 1.25 % increasing the size of your investment there by 23% to US $ 6,500 million. The company eliminated its position in <- -> AT & T <- -> Inc, – <. <-!> span class = “article-chiclet hide up” data-channel = “/ quotes / Zigman / 398198 / composite”> T 0.33 % that was also compared to the previous quarter. Buffett had been a major investor in DirecTV, AT & T bought last July

The company also traded in the quarter most of its position of US $ 4,200 million in <- -.! > Procter & amp; Gamble . Co PG 0.49 % to buy the maker of Duracell batteries. That agreement, which was originally introduced in late 2014, involved the stock exchange of a business that can generate cash and broaden the base of Berkshire profits without paying too much tax. The remaining position of the firm in the manufacturer of razors Gillette brand and Pamper diapers was around US $ 26 million at March 31

.