The Presidential Daily Brief

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    Buffett’s Berkshire Hathaway Buys $1B Stake in Apple

    It’s no longer forbidden fruit. Famously averse to tech stocks, Warren Buffett has gambled big on the Cupertino-based computing giant — news that saw the iPhone maker’s shares jump 3.5 percent to $93.65 yesterday. Long a fan of predictable, slow-earning stocks, Buffet’s investment, some analysts say, reflects that Apple is no longer a tech-only firm attracting growth and high-risk investors. And with Buffet also reportedly backing a bid to buy Yahoo, it looks like the legendary value investor has finally gotten online.

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