We have already spoken several times about Warren Buffett in Applesfera. He is an extraordinary investor. One of the best and best known of recent times. He started from the bottom, without much capital, and today, at 92, he is one of the richest men in the world.
His investment fund, Berkshire Hathaway, is one of the most profitable and stable in existence, and one of the few capable, year after year, of outperforming the market itself. Something that Buffett himself dismissed as impossible a few years ago when he challenged all major investors to achieve this goal two years in a row, and no one succeeded. He has only words of admiration for Apple and its products
“It’s just a better deal”
Warren Buffett is delighted with those of Cupertino. In their own words: “Apple is a different company than the other companies we are involved with. It’s just a better deal.” With this statement, as simple as it is resounding, he explains your investment fund’s relationship with the Bitten Apple Company at the last investor meeting held in Omaha, Nebraska.
Yes, Warren Buffett must love Apple, because his whole life he believed the technology sector was too unstable, and therefore never invested in it. However, in 2016, he decided to acquire Apple shares worth $1 billion. Right now, and after successive purchases over the years, he’s reached a whopping $151 trillion in Apple stock, which represents 46% of its total portfolio
Apple is a better company than any other company we own, says Warren Buffett. https://t.co/IycXbkDVmp pic.twitter.com/S9d1qhNCrt
— CNBC (@CNBC) May 6, 2023
In April 2023, the investor said he was so sure of the Apple user loyalty, which believed that if its buyers were offered $10,000 in exchange for never using an iPhone again, they would turn them down. Today he went further and said the following:
“Apple has a position with consumers where they’re paying maybe $1,500 or whatever for a phone. And the same people are paying $35,000 to have a second car, and if they were to give up their second car or their iPhone, they would give up their second car. It’s extraordinary. We don’t have anything like that (…) we’re very happy to own 5.6% or whatever of Apple, and we like that every time it goes up a tenth of a percentage point, it’s like adding $100 million to our earnings.”
Warren Buffett is one of the best investors in recent history, and for someone like him to say something like that about your business, it’s to celebrate, and a lot. It looks like Apple is on the right track, at least economically. Or at least that’s what Buffett thinks.
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