Warren Buffett told his Shareholders today that Apple is a better business than any other in Berkshire Hathaway's Portfolio
After Apple delivered a better than expected quarter for iPhone on Thursday, we're now learning that Warren Buffett said earlier today that Apple Inc (AAPL.O) is a better business than any other in Berkshire Hathaway Inc's (BRKa.N) portfolio.
Reuters is reporting that Buffet stated that "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 $1 billion stake in Apple in May 2016, and by March 2023 had boosted that stake to $151 billion, accounting for 46% of its $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.
The Berkshire Hathaway 2023 shareholder's guide could be reviewed here. For those that follow the stock market, the video of the annual meeting today presented below may be of some interest.