Berkshire Hathaway, the conglomerate run by Warren Buffett, purchased more than 9.8 million shares in Apple during the first quarter. This marks Berkshire's first investment in Apple. Berkshire acquired Apple's stock at about $109 a share, valuing the investment to about $1 billion.
Previously, Alphabet (Google's parent company) overtook Apple as the world's most valuable company because the company's stock has decreased in value. But it then rose 4 percent after the Berkshire's acquisition news, putting Apple back as the most valuable company.
The Apple purchase is the second big tech investment by Berkshire, which has been steadily adding to its stake in IBM. Berkshire is also backing a takeover bid for Yahoo!'s core assets.
