Berkshire Hathaway gains $1.6 billion from its huge bite of Apple

Warren Buffett's Berkshire Hathaway Inc (BRKa.N) is sitting on more than $1.6 billion of gains in its investment in Apple Inc. (AAPL.O) after shares of the iPhone maker surged.

Berkshire revealed that its massive stake in Apple stock, as of Dec. 31, had risen to 61.2 million shares for a total of $6.75 billion, an average of about $110.17 apiece, according to the annual report Saturday from Berkshire.

(www.reuters.com)