2023-05-08 16:37:29
The famous billionaire investor Warren Buffett again praised the Apple during an annual meeting of the Berkshire Hathaway, held last Saturday. This time the CEOChief executive officeror executive director.”>1 of the company focused his comments on the iPhonewhich he says is a more important product for many people than a “second car”.
According to Buffett, Berkshire Hathaway has no company in its portfolio that comes close to Apple, even though it owns “only” 5.6% of the shares of the Cupertino giant. The company, it is worth noting, only started investing in Maçã in 2016, and is currently the owner of $137 billion in company papers.
The billionaire also explained that he does not understand the iPhone (although he has been using one since 2020), but that he understands “consumer behavior”:
Apple is in a position with its customers where they are paying maybe $1,500 or whatever it is for a phone. And the same people who pay $35,000 for a second car, [quando] have to give it up or give up the iPhone, give up the second car. I mean, it’s an extraordinary product. We don’t have anything like that where we own 100%, but we’re really, really, really happy to have 5.6%, or whatever it is, and we’re pleased with every tenth that goes up.
This new round of praise comes shortly after Buffett said in April that “if someone offered you $10,000 to never buy an iPhone again, you wouldn’t take it.” The investor, it is worth remembering, also went so far as to place Apple among the 4 giants in his investment fund and call Apple’s CEO, Tim Cook, “one of the best managers there is”.
Last week, Apple released its results for the 2nd fiscal quarter of 2023. According to Maçã, in addition to having billed $94.8 billionthe company also saw iPhones break record sales during the period in Brazil.
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via CNBC
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