by Greg Guenthner
Warren Buffett’s Berkshire Hathaway just plunked down $1 billion on Apple Inc. (NASDAQ:AAPL) stock.
Predictably, the investing class gobbled up the news. Despite its recent poor performance, Uncle Warren has finally stepped in to save the nation’s most popular stock! By midday, Apple shares were up well over 3%, pulling shares out of a tailspin that threated to lay waste to the stock as it sputtered to new 52-week lows last week.
But wait just a doggone minute…
“Berkshire Hathaway’s new investment in Apple was purchased by one of Warren Buffett‘s stockpicking lieutenants, not by the ‘Oracle of Omaha’ himself,” The Wall Street Journal reports.