Berkshire Hathaway Inc.'s (BRK-B) closing price of $167.28

Warren Buffett Bets Big on Apple, Drops Deere, and Cuts Wal-Mart

Apple's shares that Berkshire had at the end of Q3 were 15.2 million and by the end of Q4, the company took it to 57.4 million, which amounts to almost $7.74 billion. Its 57.4 million shares as of that date would be worth about $7.7 billion. "Buffett clearly did not believe that scenario", he added.

The airline investments, meanwhile, suggest that Buffett has overcome his two-decade aversion to the sector after an unhappy - though, he has said, profitable - investment in US Air Group.

Vetr lowered shares of Berkshire Hathaway Inc. Buffett's conglomerate nearly quadrupled its stake in Apple and increased holdings sevenfold in the four biggest U.S. airlines.

Berkshire Hathaway made other changes.

Apple shares, which have rallied 42% in the last 12 months, surged to a new high on Tuesday and continued to move ahead on Wednesday, exhibiting rising interest among investors. Maybe at that point Buffett got a good deal, but fast forward to the final three months of 2016 - the time period when Buffett was most active in accumulating shares - the stock was trading at an average price-to-forward earnings ratio of 12.4, now above the five-year average.

Major Berkshire investments such as Wells Fargo & Co (WFC), The Coca-Cola Co (KO) and IBM are Buffett's ideas, but the 86-year-old has given more responsibility to Todd Combs and Ted Weschler in recent years.

But their decisions have sometimes influenced Buffett, as when Berkshire past year paid Dollars 32.1 billion for aircraft parts maker Precision Castparts Corp, once a Combs investment. With a market capitalization, or share price times total shares outstanding, of $711 billion, Apple is the most valuable public company in the world. "More planes are traveling more full".

Such increases often occur when investors perceive that Berkshire has given a company its imprimatur.

At the end of 2016, that Berkshire Hathaway holding was worth $6.6 billion.

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