Berkshire’s stake in Apple is currently 5.6%, and Buffett said he could buy more.
During the shareholders meeting of Berkshire Hathaway on May 6, the investment legend continued to express his satisfaction with the amount of shares he holds in Apple.
Specifically, at the Berkshire Hathaway Shareholders’ Meeting held yesterday, Buffett said: “Apple is not like other companies in which we hold shares. Their performance is better.”
Berkshire also announced holding a $1 billion stake in Apple in May 2016. By March 2023, they owned 151 billion USD. This equates to 46% of the company’s stock portfolio.
Buffett previously avoided investing in the technology industry for decades. He only changed strategy after considering Apple as a brand that represents a lifestyle rather than a technology company and has a high customer loyalty rate. Buffett has also long praised Apple CEO Tim Cook.
Berkshire’s stake in Apple is currently 5.6%, and Buffett said he could buy more. In the last quarter of last year, the company received $210 million in dividends from Apple.
In 2018, the billionaire once said that he “wants to own 100% of Apple”. This is of course impossible, but it shows Buffett’s love of the stock. Apple CEO Tim Cook once said the company is “very happy to have major shareholders Warren and Berkshire.
Apple on May 4 announced that its first-quarter revenue fell 3% to $94.8 billion. The reason is that consumers reduce spending on smartphones and computers because of recession fears.
However, the iPhone recorded record revenue in the first quarter. Revenue from services, such as Apple Music or Apple TV + also reached new peaks. This is an increasingly important area for Apple, not subject to cyclical impacts like hardware devices.
