A global tech titan just joined Warren Buffett’s portfolio…

The Los Angeles Times reports Buffett’s holding company, Berkshire Hathaway (BRK-A; BRK-B), acquired 9.81 million shares of Apple (AAPL) in the first quarter of 2016.

Apple just suffered its first quarterly sales decline in 13 years. Its profits also fell on slowing sales of the iPhone. (It sold 51.2 million phones in the quarter… about 10 million less than the same period in 2015.) Shares have dipped about 10% on the earnings news.

It’s a classic Buffett investment move. Regular Daily readers know one of his mantras is “A great investment opportunity occurs when a marvelous business encounters a one-time huge, but solvable, problem.”

Apple’s earnings setback is an issue… but not enough to dethrone it from its position as one of the all-time greatest companies on Earth. It has $55.84 billion in cash on hand… and just $71.91 billion in debt.

Plus it still earns almost $50 billion in levered free cash flow (LFCF)—the free cash flow that remains after servicing its debt obligations. Between the cash on hand and its ongoing cash flow, the company could liquidate 100% of its debt in only four months. That’s a cash-gushing machine…

Bottom line: Berkshire’s move should surprise no one. It’s picking up one of the all-time greatest businesses on the planet—at a discount. If shares decline further… wise investors will snatch up more and hold them for the long haul. (Traders could also sell AAPL put options, a great income trade we recommended right here.)