See Who Massively Earned $1 Billion In A Single Day From Apple Shares 

His bet on Apple has seemingly paid off, earning him about $1 billion in a single day on Wednesday.

 Following a stronger-than-expected third quarter earnings report on Tuesday, shares of the Cupertino-based company rose about 5.11 percent on Wednesday, reaching a high of $157.72 at 9:30 a.m.

Berkshire Hathaway, a multinational investment firm and holding company owned by Warren Buffett, owns about 135 million of those Apple shares.

Judging this common maths, If you multiply Berkshire Hathaway’s 135 million shares by the rise in Apple’s stock prices — about $7.67 — you’ll get $1,035,319,579. This means Berkshire Hathaway owned by Buffett earned more than $1 billion on Apple stocks in just one day. Of course, it’s worth noting that this assumes that Buffett would sell his firm’s shares at that stock price.

Read: How to fix iPhones’ battery issues 

Apple’s shares have declined slightly in the last couple days but have since leveled off at $156.25 by Friday afternoon, about a 2.02 percent decline since Wednesday’s high. At the current price, Berkshire Hathaway’s holdings still account for earnings of about $837 million.

In March, Buffett announced that his investment firm had purchased more than 120 million additional shares of Apple since January 1, 2017. That was a massive vote of confidence for the Cupertino-based tech giant, as Buffett historically shies away from major investments in tech companies. “Apple strikes me as having quite a sticky product, and an enormously useful product to people who use it,” Buffett told CNBC after news of the holdings spike broke. “It just has that quality. It gets built into their lives.”

Besides praising Apple’s various products, Buffett also commended CEO Tim Cook’s leadership. The business magnate went on to add that Apple was likely to reach a trillion dollar valuation even before Berkshire Hathaway’s increased holdings. Notably, various Wall Street analysts believe that this year’s highly anticipatediPhone 8 will spur a “super cycle” for the company. One particularly bullish analyst predicted that Apple could hit the $1 trillion milestone within a year, driven in part by the predicted iPhone 8 sales boom.

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