spot_img

Warren Buffett bought $600M worth of AAPL last quarter, may be buying more now

Following the Berkshire Hathaway annual shareholder meeting over the weekend, Warren Buffett revealed information on a significant Apple stock purchase made by his company lately. Buffett also said that if the price is good, he would continue to acquire as much AAPL as feasible.

AAPL shares fell from near-$180 highs in early March to $150 by mid-March. Buffett admitted to CNBC’s Becky Quick that Berkshire Hathaway acquired $600 million in Apple shares after it fell for three days in a row.

Notably, he said that if the price had remained low in Q1, he would have continued to purchase. However, by the end of March, it had risen to about $180.

“Unfortunately the stock went back up, so I stopped. Otherwise who knows how much we would have bought?” the 91-year-old investor told Quick on Sunday after Berkshire’s annual shareholder meeting.

Warren Buffett bought $600M worth of AAPL last quarter, may be buying more now

Buffett lauded Apple CEO Tim Cook for how he addresses consumers, as well as the influence of his managerial expertise, in Berkshire’s annual shareholder meeting letter:

Tim Cook, Apple’s brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim’s managerial touch as well.

Buffett also backed Apple’s stock buyback program, which was recently raised by $90 billion during the company’s earnings call.

Surprisingly, after Buffett’s $600 million AAPL acquisition in Q1, Apple shares have slid back to near-March lows. If Berkshire’s purchase range was $150, the conglomerate may be buying additional shares right now.

This contrasts with Buffett’s disclosure last year, around the time that Berkshire sold over 10 million AAPL shares, conceding that it was “probably a mistake.

Outside of ETFs and other funds, Berkshire Hathaway is the biggest single owner of Apple stock. Apple accounts for 47.5 percent of Berkshire’s interests, with a market value of just under $160 billion.

spot_img

Subscribe

Related articles

OnePlus 5T Wallpapers Download

Introduction: The OnePlus 5T is a popular smartphone known for...

Airtel’s First Quarterly Loss in 2002: A Closer Look at Jio’s Impact

The telecom industry has witnessed several significant shifts over...

Xiaomi Confirms Investment in Blackshark Gaming Phone Launch set for April 13

An engaging introduction to Xiaomi Confirms Investment in Blackshark...

LG G7 ThinQ M LCD Panel

Introduction:The LG G7 ThinQ M LCD panel is a...

Intel Core i9 Laptops with Optane Memory

Intel Core i9 laptops with Optane Memory combine the...

Apple iOS 11.4 Beta 1

Apple iOS 11.4 Beta 1 is the latest update...

Google Search AI Reorganization: Improving Search Quality and User Experience

Introduction:In the ever-evolving digital landscape, search engines play a...
Peter Graham
Peter Grahamhttp://fix-iphones.com
Hi there! I'm Peter, a software engineer and tech enthusiast with over 10 years of experience in the field. I have a passion for sharing my knowledge and helping others understand the latest developments in the tech world. When I'm not coding, you can find me hiking or trying out the latest gadgets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here