“Wall Street may have had doubts about Apple before the company reported its most recent quarterly earnings, but one of the tech company’s biggest shareholders — Warren Buffett — didn’t,” Becky Quick reports for CNBC.

“In the first quarter, Buffett’s Berkshire Hathaway bought an astounding 75 million shares of Apple. That adds to the 165.3 million shares Berkshire already owned at the end of 2017,” Quick reports. “‘It is an unbelievable company,’ Buffett says. ‘If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States.'”

Quick reports, “‘The idea that you’re going to spend loads of time trying to guess how many iPhone X [units]… are going to be sold in a 3 month period totally misses the point,’ Buffett says. ‘It’s like worrying about the number of BlackBerrys 10 years ago.'”

Read more in the full article here.

MacDailyNews Take: Well, 10 years ago, you’d be very right to be worrying about the number of BlackBerry’s being sold. Likely he means 15 years ago. Time flies.

In all other aspects of this, Buffett is right.

We refer to [the current climate of negative speculation], internally, as “Back up the Truck” season. — MacDailyNews Take, April 28, 2018

Profit from the painfully gullible.MacDailyNews, December 26, 2017

SEE ALSO:
Why was iPhone X so successful at $999 despite a slew of fake news? – May 2, 2018
Uh, yeah, about those iPhone X ‘concerns’ from analysts: Never mind – May 1, 2018
Apple beats Street with best Q2 ever – May 1, 2018
Apple’s iPhone X isn’t selling well – or is it? – April 21, 2018
Apple’s iPhone X to be discontinued this year, analyst claims – April 20, 2018
Morgan Stanley: Apple stock may fall on ‘materially’ weaker iPhone sales – April 20, 2018
Apple’s iPhone X made 5 times the profit of 600 Android OEMs combined – April 18, 2018
Apple’s iPhone captured 86% of global handset profits in Q417; iPhone X alone took 35% of global handset profits – April 17, 2018
Bernstein: Ams AG is biggest winner in Apple’s TrueDepth Camera system – April 10, 2018
Apple’s iPhone X is the UK’s most popular smartphone – April 9, 2018
Apple’s iPhone X sales continue to disappoint, some analysts say – March 22, 2018
Ignore the iPhone X naysayers – March 10, 2018
Will the naysayers admit they were wrong about Apple’s iPhone X? – February 5, 2018
Do iPhone X sales spell trouble for Apple? – January 30, 2018
Apple supplier says report of iPhone X production cuts was overstated – January 30, 2018
Another January, another misleading iPhone supply cuts story from Nikkei – January 29, 2018
Apple stock drops after Nikkei report of iPhone X production cut – January 29, 2018
Reports of Apple cutting iPhone X orders make no sense – January 2, 2018
Apple stock tumbles on one poorly-sourced report of low iPhone X demand – December 26, 2017
Apple and suppliers shares drop on report of weak iPhone X demand – December 26, 2017