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Buffett's Berkshire invests in Apple

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Warren Buffett's Berkshire Hathaway Inc on Monday revealed a new stake in Apple Inc, in a bet that the stock price could rebound after iPhone sales fell for the first time.

[NEW YORK] Warren Buffett's Berkshire Hathaway Inc on Monday revealed a new stake in Apple Inc, in a bet that the stock price could rebound after iPhone sales fell for the first time.

Berkshire held 9.81 million Apple shares worth about US$1.07 billion as of March 31, according to a filing with the US Securities and Exchange Commission detailing the company's US-listed stock holdings.

It is not clear whether Buffett or either of his portfolio managers, Todd Combs and Ted Weschler, who each invest about US$9 billion, made the investment.

REUTERS