Warren Buffet reveals $1 billion position in Apple
As a value investor, Buffet generally seeks stocks that based on his calculations, are trading for less than what the company is worth. His approach is markedly different than a trader like Carl Icahn. The latter recently sold his entire Apple position for a $2 billion profit after he became concerned that the Chinese government was making things difficult for Apple to do business in the country.
On April 26th, Apple's shares dropped under $100 immediately after the company announced that for its fiscal second quarter, iPhone sales dropped year-over-year for the first time in history. While we won't know until the current quarter ends next month, it is possible that Buffet is taking advantage of the decline to pick up additional shares in Apple.
Buffet isn't known to be a investor in technology. One of the richest men on the planet, he has made billions buying and taking long term positions in famous American brands like Coca-Cola and American Express.