Warren Buffet Loading Up On APPL

Buffett’s holding company, Berkshire Hathaway, bought 57.4 million shares of the iPhone maker in 2016.

Warren Buffett nearly quadrupled his stake in Apple (symbol AAPL, $135.51) during the last three months of 2016, according to the latest 13-F filing with the Securities and Exchange Commission by Buffett’s holding company, Berkshire Hathaway BRK.B. The big investment is already looking like a shrewd move. Apple shares are setting record highs this week and are up 17% so far in 2017. With a market capitalization, or share price times total shares outstanding, of $711 billion, Apple is the most valuable public company in the world. (Prices as of February 15.)

If it’s good enough for Warren Buffet, it should be good enough for all the market wonks out there predicting Apple’s doom for the last 15 years.