Buffett says Apple is Berkshire portfolio's best business
Reuters
Published May 06, 2023 02:07PM ET
Updated May 06, 2023 07:08PM ET
OMAHA/NEW YORK (Reuters) - Warren Buffett said on Saturday that Apple Inc (NASDAQ:AAPL) is a better business than any other in Berkshire Hathaway (NYSE:BRKa) Inc's portfolio.
"Apple is different than the other businesses we own. It just happens to be a better business," said Buffett during Berkshire's annual meeting in Omaha, Nebraska.
Berkshire revealed a $1 billion stake in Apple in May 2016, and by March 2023 had boosted that stake to $151 billion, accounting for 46% of its $328 billion equity portfolio,
Buffett has long praised Apple CEO Tim Cook, and viewed Apple less as a technology company and more as a consumer products company with a dominant product, the iPhone, that people want and need.
Berkshire has recently held a 5.6% stake in Apple, and Buffett said it could buy more.
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Written By: Reuters
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