What Does Art Cashin Have To Say About Apple?

UBS’ Art Cashin was on CNBC Monday, discussing the events and stocks moving the market in a day where all major U.S. stock indexes and oil were up considerably. The expert described the surge, partly as a relief rally after a few days of losses, but mainly, as driven by Apple Inc. AAPL’s spike of more than 4 percent — given its presence in all three main indexes — and the rise of more than 2.5 percent in oil prices.

In turn, Apple was trading up on Monday, helped by the release of the latest round of 13F filings, which came with news about Berkshire Hathaway’s new stake in the tech behemoth.

Related Link: Berkshire Hathaway Just Reported 9.8 Million Share Stake In Apple

According to the SEC filing, Warren Buffett’s fund acquired 9,811,747 shares of Apple over the first quarter of 2016, building a position valued at more than $1.06 billion by March 31. Also confirming the firm’s confidence on tech was its stake in International Business Machines Corp. IBM, which comprised 81,232,303 shares, worth more than $12.3 billion by the end of the quarter.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.