Apple stock rose 3.9 percent Friday as Warren Buffett revealed that his company, Berkshire Hathaway, bought an additional 75 million shares.

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Apple shares closed at a record Friday after Warren Buffett told CNBC he bought an additional 75 million shares of the iPhone maker in the first quarter.

The Apple purchase, costing between $11 billion and $14 billion, adds to the almost 170 million shares that Buffett-run Berkshire Hathaway owned at the end of 2017, when it was already his biggest shareholding.

Just days before Buffett disclosed the larger stake, Apple reported quarterly results that topped analysts’ estimates. The numbers helped end a recent swoon in Apple stock spurred by concern that its flagship iPhone  X model wasn’t selling as well as Wall Street originally hoped.

“It is an unbelievable company,” Buffett said in the CNBC interview. Berkshire Hathaway is holding its annual meeting this weekend in Omaha, Nebraska. Buffett said the company’s exact holdings will be disclosed in a regulatory filing Saturday.

Apple shares closed up 3.9 percent at $183.83 Friday. That valued the Cupertino, California, company at $932.8 billion. The stock rose 13.3 percent this week, its best week since 2011, and is up about 8 percent so far this year.

Popular technology stocks are making up a bigger piece of the market pie than ever before. The FAANG stocks — Facebook, Amazon, Apple, Netflix and Google — now account for over 27 percent of the Nasdaq composite index, an all-time high.

Buffett is relatively new to technology investing, having avoided the sector for most of his long career. However, as the industry has grown into a more important part of the economy, the Berkshire chairman has built a limited number of positions, with mixed results so far.

Buffett plowed more than $10 billion into IBM in 2011. Shares of the corporate-software giant have gone nowhere since the beginning of that year. He recently sold the position and said his IBM thesis was flawed. His Apple investment has performed better, but Buffett has also said he missed out on investing in Google and Amazon.