Berkshire Hathaway, the conglomerate owned by Warren Buffett had it’s annual meeting organised this week – where the billionaire investor and it’s CEO praised Apple as their best bet.
Adding to many of their past convictions, Buffett said Apple is the best company in their portfolio and it’s customers are the most loyal ones. His company Berkshire Hathaway owns about 5.6% of Apple, which translates to around $116 billion.
Best Bet of All Times
Apple is undoubtedly one of the best-performing companies in the recent decade. The company’s developments in several fields have been astonishing, garnering positive results all over. World’s renowned philanthropist and billionaire investor, Warren Buffett has been saying the same.
In the latest annual meeting of his company – Berkshire Hathaway, Buffett appraised Apple as the best company in his company’s portfolio. Although he reiterated this multiple times, this one was special.
He continued by saying that the iPhone is an extraordinary product. “We don’t have anything like that, that we own 100% of, but we’re very, very, very happy to have 5.6%, or whatever it may be and we’re delighted every 10th of a per cent that goes up”.
Berkshire Hathaway’s 5.6% in Apple constitutes over $116 billion today, which is way greater than what it initially invested. The company has been investing in Apple since 2016 and Buffett is interested in doing more of this investment in the future too.
While Apple is their major bet in investments(with over 40% share), others include Bank of America($33.45 billion), Chevron($29.25 billion), Coca-Cola($25.44 billion) and American Express($22.40 billion).
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