Buffett says Apple is Berkshire portfolio's best business
A person takes a picture as investors and guests arrive for the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, on May 6.
PHOTO: Reuters
PUBLISHED ONMay 07, 2023 2:50 AM
OMAHA/NEW YORK – Warren Buffett said on Saturday (May 6) 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 US$1 billion (S$1.3 billion) stake in Apple in May 2016, and by March 2023 had boosted that stake to US$151 billion, accounting for 46 per cent of its US$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.
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