American business magnate, Warren Buffett has invested 1 billion dollars in technological giant, Apple. The investment was made through Berkshire Hathaway Inc.
This investment bankrolled by one of the richest men in the world, will be welcomed by Apple after it reported few months back a slide in the sales of iPhone as well as revenue for the first time in 13 years. Apple’s shares rose by 3% to more than $93 after the announcement was disclosed.
Last month, Apple had lost around 45.76 million shares representing 0.83% of all Apples outstanding stock due to divestment by Carl Icahn. The famed activist investor had withdrawn his investments in Apple due to concerns that China could make it difficult for the company to do business there.
