News that Warren E. Buffett's holding company, Berkshire Hathaway, has taken a bite out of beleaguered Apple (AAPL) - Get Apple Inc. (AAPL) Report , worth about $900 million, is a signal to investors that the technology giant is now a raging buy.

Countless fortunes have been made by following the lead of Buffett, the most admired and one of the most successful investors of all time.

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The key to his success is that his investment picks are easy enough for even novice investors to understand. And Buffett famously buys only what he can personally understand.

This methodology has largely kept him from purchasing technology stocks, which has generally worked out, as he steered clear of the dot com bubble, for instance.

So when Buffett and Berkshire Hathaway make a play in the tech realm, it is definitely worth noting.

In a filing made to the Securities and Exchange Commission, he revealed a few surprising forays into the tech sector, including an increase to Berkshire Hathaway's stake in IBM. But the news that really has Wall Street buzzing is the disclosure that it purchased a whopping 9.8 million shares of Apple.

The actual decision to buy Apple shares was probably made by portfolio managers Todd Combs and Ted Weschler. But Berkshire Hathaway remains under the watchful eye of its guru chairman.

The giant purchase was clearly made with Buffett's blessing, indicating that the true value of Apple is something even the Oracle of Omaha understands.

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Apple has been beaten down of late, its years of rollicking stock gains hampered by slowing iPhone and iPad sales. But it remains one of the most valuable companies in the world, especially for investors who are looking for a long-term play.

It is important to keep in mind that Apple is in a highly cyclical business, with period of booms and busts that can last years. From 1983 to 1985, Apple stock lost 76%.

But by 1991, following the release of a legendary commercial that introduced the Macintosh personal computer to the world, the stock had ticked up by more than 880%. The next six years saw Apple stock droop by about 80%, before Steve Jobs returned to the helm and introduced the iPod and iPhone.

What happened next minted millionaires, with the stock rocketing skyward by an astronomical 21,000%.

Apple's stock will return to its pattern of growth, but it will take time for the unveiling of the "next big thing."

And that may not be very far in the future, as Apple is set to roll out its next-generation iPhone 7 in September.

In addition, last week Apple made strides in its efforts to develop a self-driving car with an investment in Chinese ride-sharing company Didi Chuxing Technology. Just imagine what kind of profits an autonomous Apple Car could bring the company and its investors.

Clearly, Apple has the technology, innovation and leadership to propel its stock over the next decade. Berkshire Hathaway understands this and has chosen a great time to scoop up shares in the tech giant.

It is a great time for individual investors to get on board, too.

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.