Warren Buffett Buys $1B-Plus Stake in Apple

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Warren Buffett

His Berkshire Hathaway's new stake is for 9.8 million shares.

Warren Buffett's Berkshire Hathaway has acquired a stake in Apple, according to a Securities and Exchange Commission filing on Monday.

The billionaire investor's investment vehicle reported owning a new stake in Apple of 9.8 million shares, valued at $1 billion-plus, as of March 31.

Shares of Apple rose slightly in pre-market trading.

Apple's stock has been trading well below highs set last summer amid slowing iPhone sales momentum.

Apple CEO Tim Cook earlier this year said that the company was "seeing extreme conditions unlike anything we've experienced before just about everywhere we look."