(Bloomberg) -- Warren Buffett found a lucrative bet in Apple Inc. His Berkshire Hathaway Inc. just isn't getting rewarded for it.
Berkshire's Apple investment has swelled to a value of almost $122 billion, far surpassing the $35.3 billion that the company spent in recent years buying Apple shares. At the end of the second quarter, the stake in the iPhone maker accounted for about 44% of Berkshire's stock portfolio.
Despite the enormous size of the Apple stake, Berkshire shares slumped 8.4% this year through Friday, compared with the 69% gain in Apple stock. Apple, which counts Berkshire as its third-largest shareholder, recently made history when its market value climbed over $2 trillion.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
