Shares of Apple Inc. rose 0.5% in premarket trade, on track for a third-straight gain, after billionaire hedge fund manager David Tepper more than doubled his stake in the tech giant, and Warren Buffet maintained his large stake. The stock was trading at $160.60 ahead of the open, just 0.3% below the Aug. 9 record close of $161.06, and 0.8% below the Aug. 8 all-time intraday high of $161.83. Tepper’s Appaloosa LP owned 625,000 shares of Apple as of June 30, according to the latest filings, up from 300,000 shares at the end of March. Meanwhile, Buffett’s Berkshire Hathaway Inc. kept its Apple stake intact at 129.4 million shares, enough to make Berkshire the fifth largest shareholder. Separately, billionaire George Soros’s hedge fund Soros Fund Management increased its stake in Apple to 1,700 shares from 1,400 shares. Apple’s stock, which edged up 0.2% during the second quarter, has run up 11% since the end of June through Monday, while the Dow Jones Industrial Average has tacked on 3.0%.
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