“The ‘Oracle of Omaha,’ who was revealed last week to have made another big investment in Apple, indicated that he’s looking at continued investment in Apple in the future,” Stephen Silver reports for AppleInsider.
“At Berkshire Hathaway’s annual shareholder meeting, Buffett had more to say about his Apple plans,” Silver reports. “‘[Apple] was a company I liked, a business I liked, very much,’ Buffett said of Apple in an interview with CNBC. ‘It was a company I liked, a business I liked, very much, and we could buy a lot of it I clearly like Apple and why buy ’em to hold, and we bought about 5 percent of the company, and I’d like to own 100 percent of it.’ Buffett went on to state that ‘that’s the test — would you like to own 100 percent of a company?'”
Buffett on his Apple stake: We currently own about 5% of the company, "but I'd love to own 100% of it" https://t.co/9SiIuaXfCo pic.twitter.com/A3zsAQfpPu
— CNBC Now (@CNBCnow) May 7, 2018
We’re not buying a stock when we buy Apple, in our minds. We’re buying 5 percent of a business. We buy 100 percent of some businesses, and when they’re publicly held we buy 5 percent, but we bring the same thinking to it. We like very much the economics of their activities. And we like very much their management, and the way they think, and the way they act. — Warren Buffett
Read more in the full article here.
MacDailyNews Take: Who wouldn’t?
SEE ALSO:
Apple and Buffett saw value, and acted by scooping up millions of shares – May 7, 2018
Warren Buffett’s Berkshire Hathaway bought 75 million more Apple shares during the first quarter – May 4, 2018
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
Hey Warren, you can have my shares at $250 each whenever you want.
Fake News Headline – Gates takes over Apple.
Bill Gates happens to be on the Board of Directors at Berkshire Hathaway.
What really puzzles me is why Buffett and crew see value in Apple that others don’t. I would think that based on fundamentals, everyone would pretty much see similar value. It shouldn’t vary that widely. Is it that Buffett is far more conservative than other big investors. Everyone is going for those FANG stocks and don’t seem to care how much they have to pay for them. The FANG stocks are NEVER considered overvalued and are always said to have unlimited growth. Even Microsoft is valued far higher than Apple. Although Buffett said he’d like to own Amazon and Google he didn’t see their value years ago. That must show that Buffett basically looks at certain metrics in a company to consider buying that stock or that he really didn’t grasp their value.
Anyway, I just find this whole Buffet endorsement quite interesting if he can actually convince other investors to buy Apple. That would definitely prove the market is full of sheep or chickens. Apple didn’t change overnight, so it’s not as though anyone should have been fooled a few weeks ago into selling their Apple stock. The supply chain rumors were certainly unconfirmed unless you consider anonymous sources a reliable confirmation of anything.
I think that Buffett saying he’d like to own 100% of Apple is going a bit overboard. That really sounds like a hard sell to drive up Apple’s price although he said he’d like to see Apple’s price drop before he’d buy more. I’d think there should be no further need for Buffett to be talking about his future plans of purchasing Apple at this point. I’m glad Buffett is enthusiastic about Apple but he’s already proven his point. He’s got plenty of actual skin in the game unlike those jackass analysts who only talk BS and accept no responsibility for their actions.
Katy Huberty actually did apologize for not seeing the big picture for Apple investors and that nearly floored me. I tip my hat to her for doing that much. I didn’t heed any analyst’s panic mode advice so I made only nice gains.
I think Buffet is looking at the cash produced over the long haul. Apple isn’t growing quickly but they consistently generate lots of free cash. My impression is that traders are looking for quick gains so they like a smaller stock which can rise quickly on some news.
Oh, Buffet also does his homework and studied Apple carefully.
He’s not exactly pumping the stock. When he says he’d like to own 100% of Apple, I think you can take that at face value. He just means this is a business he’d like to own outright (as he owns some large corporations outright) because of its fundamentals.
Hmmm. Got to say I am getting tired of all the breathlessness over things he does. Check in with some of the Heinz workers that are out of a job after he gained control of that company. It’s isn’t always about the almighty dollar!
MacDailyNews Take: Who wouldn’t?
Someone who might want a modern desktop Macintosh that is not a glued shut box. That would be one.
Someone who would like to see an updated iPad mini. That would be another.
Someone who would like to see iTunes (the software) fixed.
That would be still another.
MacDailyNews Take: Who wouldn’t?
Google, HP, DELL, Lenovo etc.