Warren Buffett Bets Big on Apple, Drops Deere, and Cuts Wal-Mart

Warren Buffett Bets Big on Apple, Drops Deere, and Cuts Wal-Mart

Warren Buffett Bets Big on Apple, Drops Deere, and Cuts Wal-Mart

Legendary investor Warren Buffett, through his Berkshire Hathaway firm, has almost quadrupled the company's stake in Apple's stock through a shopping binge during the final three months of 2016, according to a regulatory filing.

Buffett has said his company picked up shares of Southwest for the first time last quarter, and Tuesday's filing revealed Berkshire now owns about 43 million shares.

Investors like to look at Berkshire's investments for ideas because of Buffett's remarkably successful track record.

The Omaha, Nebraska-based conglomerate also owns roughly 90 companies such as the BNSF railroad, Geico auto insurance and Dairy Queen ice cream.

Shares of Apple closed on Tuesday up $1.73 at $135.02, also a record closing high.

"We are increasingly confident in the outlook for Apple's iPhone 8 cycle" Goldman Sachs analyst Simona Jankowski wrote in a research report this week. That investment got attention when it was first disclosed past year because Buffett has always been reluctant to invest in technology companies. Buffett said at the time that Berkshire added Southwest shares after September 30, but didn't specify the size of the investment.

Multiple tornadoes hit Louisiana
At least four tornadoes touched down in Louisiana late Tuesday morning, destroying homes and businesses and injuring residents. One of the warnings described a "large, extremely unsafe and potentially deadly" twister south of Hammond, Louisiana.

The firm more than doubled its stake in American Airlines, increased its stake in United six-fold, and boosted its stake in Delta by 1,465% during its fourth quarter, which ended December 31.

Warren Buffett is taking a big bite out of Apple.

Combs and Weschler are the leading candidates to eventually succeed Buffett as Berkshire's chief investment officer.

Buffett told talk show host Charlie Rose in an interview last month that it was "in large part" his decision to dive back into airlines. During the past two decades, Buffett has focused more on acquisitions than stocks to generate growth.

"The industry was once balkanized, but now it is bulking up, and has come to realize that an empty seat is a perishable asset", Russo said.

Monsanto and Sirius did not immediately respond to requests for comment. It completely dumped its stake in Deere.

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