Tech

Warren Buffett has upped his stake in Apple again

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Billionaire Warren Buffett has upped his stake in Apple, making the tech company Berkshire Hathaway's biggest investment.

Fresh disclosures of the firm's holdings show its Apple investment grew 23 per cent in the fourth quarter to the end of December.

Read more: Apple boss Tim Cook wants to see the end of cash before he dies

The new holdings of 165.3m shares is worth $28bn. Buffett is already one of Apple's biggest investors, although he does not own an iPhone.

That means Apple overtook Wells Fargo as Berkshire Hathaway's biggest common stock investment.

It's a boost for Apple which has been hit with several analyst downgrades in recent months with concerns surrounding weakening smartphone demand.

Read more: Less is more: Apple beats expectations but unit sales fall

Meanwhile Buffett, nicknamed the oracle of Omaha, sold down a stake in another tech company – IBM. He has previously noted that the stock has disappointed him over the years.

Stock worth $5bn was sold off, reducing Berkshire's stake to $314m, filings with the Securities and Exchange Commission (SEC) revealed.

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