News Worms
News Worms

Berkshire Hathaway (NYSE:BRK-B) Reviewed By Analysts

Berkshire Hathaway (NYSE:BRK-B) Reviewed By Analysts

Apple Inc. stock recently purchased by Berkshire Hathaway Inc., Warren Buffett's holding company, increased in value by $1.1 billion in six weeks, a required filing says.

Berkshire Hathaway, which Buffett leads, increased its holdings in Apple to roughly 57.4 million shares as of the end of 2016, a filing with the Securities and Exchange Commission showed. Berkshire also exited from Deere, shares of which actually exploded on the news of Trump winning the elections, which were some 30% rise from pre-election levels.

Cupertino-based Apple's stock has soared 17 percent this year in its climb to all-time records. He has said that investments of less than $1 billion are likely to be the work of Ted Weschler or Todd Combs, who each handle about $9 billion for Berkshire.

More news: Laidlaw ruled out of Six Nations

Berkshire's initial investment in Apple got attention a year ago, given Buffett's usual aversion to technology companies - apart from IBM - which he considers outside his zone of competence. At that time, Berkshire bought stakes in several railroads- Union Pacific, Burlington Northern Santa Fe, and Norfolk Southern -before the insurer ultimately bought out BNSF (after which Berkshire unloaded the shares of the two other firms).

The billionaire sold off $900 million of Walmart stock cutting his share by 89.26 percent, according to GuruFocas that tracks the buying and selling of stocks.

His comment comes after Berkshire almost quadrupled its stake in Apple last quarter.

More news: Qualcomm's new 802.11ax chips will ramp up your Wi-Fi

Goldman Sachs raised its 12-month price target to $150 from $133 for Apple, accompanied with a "buy" rating. The company has seen revenue growth of around 10% annually over the last three years and has good cash flow. But year-over-year sales growth returned in the December quarter, up 5%, and the new iPhone 8 is expected to rejuvenate demand later this year.

Analysts believe the tech company's prospects will only brighten.

More news: What Kevin Love's Injury Means Going Forward


editors' picks

February 17, 2017
Trump is freezing out the mainstream media. That should scare you
Republicans have joined congressional calls for an investigation into Mr Flynn's contacts with Russian Federation. The controversy comes as Mr Trump and his leading advisers seek to steady the White House after a rocky start.

February 16, 2017
Aetna and Humana Call Off $34 Billion Merger
Medicare Advantage plans involve privately run versions of the federal Medicare program for people who are over 65 or disabled. Anthem responded that the merger agreement was in place until April 30, 2017, and that Cigna could not back out.

February 16, 2017
Root determined to do things his way as England captain
Cook, England's record Test run scorer, is expected to remain in the side as an opening batsman for the foreseeable future. Root will become England's 80th Test captain when he leads the team out against South Africa at Lord's in July.

February 16, 2017
'Rocket League' Gets PS4 Pro Support and 4K Treatment
As you may know, achieving a smooth and consistent frame rate in racing games is an important factor to us here at Team VVV. If you run three or four players, the game will still run very smoothly at 60 FPS, though at a lighter resolution.

February 16, 2017
Fortress Investment Group And Why Option Alerts Are So Important
Fortress's stock has slumped by almost two-thirds since the listing, after the company booked losses over the first five years. The acquisition, subject to approval by Fortress shareholders as well as regulators, is expected to close in the second half.

February 16, 2017
Senate Passes Bill to Allow Severely Mentally Impaired People to Buy Guns
The rule, meant to strengthen gun background check laws, was created in the final months of President Barack Obama's administration.

February 16, 2017
Verizon/Yahoo to share breach liability; Discount could be $300M
In previous statements, Verizon has said it has been monitoring Yahoo's ongoing investigation into the security breaches. Verizon sees mobile video and advertising as new sources of revenue outside an overcrowded USA telecoms market.

February 16, 2017
An old episode of Oprah comes back to haunt Trump labor nominee
Andrew Puzder, on his way back to a life of terrorizing his own employees instead of every worker in America. Decades ago, Puzder's ex-wife levied charges of domestic abuse against him, which she later dropped.

February 16, 2017
Qantas passengers will soon get to use Netflix and Spotify inflight
Existing subscribers will be able to log in to their accounts and access the services during flights as they would normally. Foxtel will offer Qantas customers three days of access to live and on-demand content through its app each time they fly.

February 16, 2017
Facebook Makes Watching Videos Better & Worse
The company previous year expanded its live video product, Facebook Live - a potential threat to broadcast television. Refusing to heed scepticism from users, the feature is being pitched as a "richer, more engaging" approach to video.