Berkshire Hathaway CEO Warren Buffett has famously shied away from technology stocks for much of his career. He has given several explanations (and expressed a modicum of regret) for passing on opportunities like Microsoft and Alphabet, but they all amount to the same thing. Technology companies are generally outside his realm of expertise.

However, Buffett began to redefine his circle of competence about a decade ago when Berkshire took a substantial stake in IBM in 2011. Berkshire has since exited that position, but it laid the foundation for another one: Apple (NASDAQ: AAPL). As of Sept. 30, Berkshire Hathaway had 49% of its $318 billion equity securities portfolio invested in this single technology stock.

The prevailing consensus is that Buffett was not the original decision-maker when Berkshire first bought shares in 2016. That distinction probably lies with his co-investment managers Todd Combs and Ted Weschler.

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Source Fool.com