Warren Buffett’s Berkshire Hathaway upped its stake in Apple in the first quarter of 2018, adding 75 million shares of the consumer tech giant’s stock.
The additional shares added to the more than 165 million Apple shares Berkshire owned at the end of 2017, CNBC reported.
The revelation comes ahead of Buffett’s annual Q&A meeting set to begin in Omaha on Friday, and just days after Apple reported blockbuster earnings this week.
Speaking about Berkshire’s big bet on Apple, Buffett called it “an unbelievable company.”
“If you look at Apple, I think it earns almost twice as much as the second-most-profitable company in the United States,” Buffett said.
Indeed, Apple made a ton of money last quarter, as Business Insider tech reporter Kif Leswing wrote on Wednesday. Apple posted $61 billion in revenue for Q2, up 16% year-over-year, and powered in part by the 52.2 million iPhones the company sold during that period.
Frontpage February 14, 2019