“Billionaire investor Warren Buffett told CNBC on Wednesday that he had not sold a share of Apple,” Reuters reports.
“Buffett, chairman and chief executive of conglomerate Berkshire Hathaway Inc., said about Apple compared to IBM: ‘I feel more certain about the future as I look at a company like Apple than when I look at IBM now,'” Reuters reports. “Berkshire has disclosed a roughly $20 billion stake in Apple. Buffett owned about 81 million shares of IBM at the end of 2016 and sold about a third of them in the first and second quarters of 2017, CNBC reported in May, citing Buffett.”
Reuters reports, “When asked why he was silent about U.S. President Donald Trump’s administration, Buffett said: ‘I am not in the business of attacking any president, nor do I think I should be.'”
Read more in the full article here.
MacDailyNews Take: As Jim Cramer says of Apple, “Own it, don’t trade it.”
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He’ll sell when the time is right. It would be nice if he waited until Apple reaches a $1T market cap. Yeah, I suppose it’s something to look forward to. I’m certainly glad Buffett has become an Apple cheerleader no matter what his motives are. It seems he usually waits until a company is really struggling in terms of value before he dumps it. Buffett will certainly be holding Apple for the rest of the year.
I watched the interview. The interviewer just asked Buffett when he bought, whether he would buy more … but not WHY he bought in the first place. Buffett shunned tech for a long time, his reasons for buying (as a known ‘value’ investor) is a questions I thought was crucial yet no interest from the interviewer. Just goes to show long term fundalmentals is of little interest to the new breed of ‘investors’ [ short term timing traders really], investing today seems less on the soundness of a company but more a buy/sell casino.