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Here's how much Warren Buffett paid for his stake in Apple
(Warren Buffett, the chairman and CEO of Berkshire Hathaway.Thomson Reuters)
Apple's beleaguered stock got some good news last month when Berkshire Hathaway announced that it had purchased a substantial stake in the iPhone maker.
Now, thanks to a regulatory filing, we know how much the Warren Buffett-headed company paid: an average of $99.49 a share, Bloomberg reports. Berkshire Hathaway had purchased 9.81 million shares of Apple through March 14.
That's about 25% below the stock's 52-week high, reached last summer. But it's not quite at the stock's lowest point: Apple shares traded as low as $89.47 in mid-May.
Apple stock was down 2% in early trading on Friday to $95.55 a share.
As had been previously reported, the stake in Apple wasn't driven by Buffett. Instead, the forms show that the subordinate investment managers Todd Combs and Ted Weschler had initiated the holding.
But as Berkshire bought into the technology company, other major investors including David Tepper's Appaloosa Management and Carl Icahn were dumping their stakes.
In May, Berkshire ranked as the 56th-largest Apple shareholder.
Apple was down 7.3% this year through Thursday, mostly on concerns that iPhone sales, the economic engine of the company, were in 2016 poised for their first year-over-year decline.
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