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Warren Buffett Invests $1 Billion in Apple

After Apple’s first year-over-year quarterly revenue decline in 13 years, some on Wall Street soured on the company’s stock, but one big-name investor is betting heavily on Apple. Warren Buffett’s Berkshire Hathaway firm invested over $1 billion in Apple earlier in 2016. Berkshire Hathaway is famously conservative in its investments, and rarely ventures into the tech sector, so its backing is a vote of confidence in Apple during an uncertain time. News of Berkshire Hathaway’s stake in the company caused an immediate 3.7 percent increase in Apple’s stock price.

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