Shares of giant technology Apple closed up 5.39% at US $ 127.79 per share. The increase occurred since CEO Berkshire Hathaway and well-known investor Warren Buffett reportedly bought 5.4% shares in Apple.
In his annual letter to investors earlier this week, Buffett’s investment became Berkshire’s third most valuable asset. The increase in Apple shares was also the second largest after a 6.35% gain on October 12. And its jump also outpaced the Nasdaq’s 3.01% increase on the same day.
“Berkshire’s investment in Apple clearly illustrates the repurchase power,” Buffett wrote in the letter, quoted from CNBC, Tuesday (2/3/2021).
Warren Buffett and Berkshire Hathaway began buying shares of Apple in 2016 after years of shunning tech company stocks. The increase in Apple shares that has occurred since last year is said to be successful despite the pandemic and other problems.
Apple’s share increase also came after the company confirmed its 270 stores in the US opened again. Yesterday was the first time all stores in the US opened since Apple started closing them to suppress the transmission of COVID-19.
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