Warren Buffett's Berkshire Hathaway increased its stake in Apple by 23.3 percent to 165.3 million shares, CNBC reports.
The move comes as Berkshire Hathaway dropped roughly 94.5 percent of its holdings in IBM, of which it now has 2.05 million shares.
On Tuesday, Apple's CEO Tim Cook told shareholders the company will attempt to make a "significant contribution" to healthcare by growing its health goals beyond wellness apps and devices. Berkshire Hathaway plans to expand its healthcare footprint as well through its venture with Amazon and JPMorgan Chase & Co.
Mr. Buffett told CNBC last year he had more certainty about Apple's future than IBM's.