Warren Buffett's Apple stake earns $40B in rebound from coronavirus low
Apple takes up about 43% of Berkshire's portfolio
Berkshire Hathaway's Apple stock has ballooned $40 billion since its March lows in a coronavirus-induced downturn.
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The Warren Buffett-owned holdings company currently owns about 250 million shares of the tech giant, taking up 43 percent of Berkshire's portfolio, according to a July 6 report from The Motley Fool and investment education website Investopedia.
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Apple's stock reached a low of $229.24 per share on March 23 after taking a hit from the coronavirus pandemic that shut down much of the global economy, but it has rallied in the past few months, reaching a new high of $390.90 per share on July 15.
That's a gain of $166 a share, or about 68 percent.
Berkshire Hathaway Chairman and CEO Warren Buffett. (AP Photo/Nati Harnik)
Berkshire purchased its first Apple shares in 2016, growing the stake over the years since. The cost was $35 billion, or an average $141 a share, according to Buffett's annual letter to shareholders in February, and it's worth more than $96.6 billion at Friday's closing prices.
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Berkshire's Apple stake is worth more than each of its other equity stakes combined, with the exception of its No. 2 holding, Bank of America, according to The Motley Fool.
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COVID-19 forced Apple to temporarily close stores around the globe and stop production at some of its biggest factories in China.
Since March, factories and stores in China have reopened; some outlets that reopened in the U.S., however, closed again when states began to report spikes in cases.