Berkshire Hathaway takes a new $1 billion position in Apple

Warren Buffett’s Berkshire Hathaway took a new $1 billion position in Apple in the first quarter, according to The Wall Street Journal.

The investor’s firm owns 9.81 million shares of Apple as of March 31, worth about $1.07 billion. News of the buy-in comes after investor Carl Icahn sold all of his shares in Apple last month. 

Icahn said he still views Apple as a "great company," but concerns over the Chinese economy and government led him to sell off his shares. Last week David Tepper's Appaloosa Management also sold its stake in Apple, shedding more than 1.26 million shares.