Warren Buffett said on Saturday that Apple Inc is a better business than any other in Berkshire Hathaway 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 USD 1 billion stake in Apple in May 2016, and by March 2023 had boosted that stake to USD 151 billion, accounting for 46 per cent of its USD 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 per cent stake in Apple, and Buffett said it could buy more.
(Reuters)
