Stock rally helps Warren Buffett to jump in profit

Warren Buffett

The billionaire has so far been reluctant to make large investments during the corona crisis.

(Photo: AFP)

Denver The recovery in the stock markets has helped Warren Buffett’s investment company Berkshire Hathaway post strong quarterly results. Net income rose 87 percent year over year, to 26.3 billion.

Buffett profited significantly from the price rally at Apple, by far the largest position in its equity portfolio. The iPhone manufacturer’s paper increased by 43 percent in the second quarter. That makes Buffett’s stake worth a good $ 110 billion. Other large positions, such as JP Morgan Chase and Amazon, have also increased significantly in recent months.

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