The worth of Warren Buffett’s Apple investment moved up by $9.8 billion
Key takeaways:
- Warren Buffett’s Berkshire Hathaway notched $9.8 billion in earnings on Friday as Apple stock climbed on a substantial profits report.
- The Omaha investor possesses over 5% of outstanding Apple stock.
- Apple CEO Tim Cook has also honored Berkshire’s investment in the firm.
Warren Buffet made significant profits by investing in Apple:
The worth of Berkshire Hathaway’s holdings in Apple grew $9.8 billion on Friday as Apple stock climbed about 7% on a robust gains report.
On Thursday, Apple registered December quarter gains, posting about $124 billion in sales and robust sales increase in each product line besides for the iPad. Investors appeared quite keen on CEO Tim Cook’s comments that supply chain headaches enhance.
According to FactSet data, Berkshire Hathaway began earning Apple stock in 2016 and now possesses 887,136,000 shares of the iPhone creator or over 5% of Apple’s outstanding stock.
Buffett has been one of Apple’s most famous supporters since 2016. However, he initially thought high-flying tech investments too difficult for Berkshire Hathaway before purchasing Apple shares. Apple now pushes up over 40% of Berkshire Hathaway’s portfolio.
Apple points to regular dividends, which Buffett has stated is appealing under his investing tenets.
“I don’t think of Apple as a stock. I think of it as our third business,” Buffett informed CNBC in 2020, naming it “likely the best business I know in the world.”
Buffett has also stated that Apple’s iPhone ecosystem is “tacky” and urges clients to upgrade regularly, making it a safer investment and more like a client firm than a tech firm.