“In the days leading up to Berkshire Hathaway’s annual meeting in early May 2018, Warren Buffett announced that Berkshire had purchased about 75 million additional shares of Apple,” Matthew Frankel writes for The Motley Fool. “This is in addition to Berkshire’s already-massive stake, and it results in the company owning more than 240 million shares of the iPhone maker — about 5% of the total. As of this writing, Apple trades for about $187 per share, which makes Berkshire’s Apple investment worth roughly $45 billion.”
“While Apple is now Berkshire’s largest stock investment by far, recent comments by Buffett and his right-hand man, Charlie Munger, indicate that Berkshire could add even more Apple stock to its portfolio,” Frankel writes. “‘We bought about five percent of the company. I’d love to own 100 percent of it,’ Buffett said. Charlie Munger, Berkshire’s vice chairman and Buffett’s longtime business partner, echoed Buffett’s viewpoint. ‘I think we’ve been a little too restrained,’ Munger said to CNBC. ‘I wish we owned more of it.'”
“At the end of the first quarter, Berkshire had about $108 billion in cash and equivalents on its balance sheet, down from about $116 billion at the end of 2017, mainly as a result of the Apple stock purchases,” Frankel writes. “Buffett recently told CNBC that he’d rather have about $30 billion in cash, so this leaves nearly $80 billion burning a hole in Berkshire’s pocket. I wouldn’t be at all surprised to see Buffett use a significant portion of this to accumulate even more Apple stock.”
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SEE ALSO:
Warren Buffett’s Berkshire Hathaway not finished buying Apple, ‘would love to own 100 percent’ – May 7, 2018
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
Any body here feel sorry for Billy Goat Gates 🙂
The irony is that Gates is on the Berkshire Hathaway Board of Directors.
If Buffett keeps buying Apple share Berkshire will likely have a representative on the Apple Board of Directors.
Net worth of 91.5 Billion? No, not really.
I will sell AAPL for WB my shares at $235.
Having Berk as a large shareholder, great!
Having Berk own 100% of Apple like he jokes about, not good. Becareful what you wish for.
Warren Buffet’s, Berkshire Hathaway has a stake in Apple currently less than 100%. Buffet hints that the stake could get bigger. Mathematically, his story checks out.
Mathematically speaking, his stake could also get smaller.
If he just stand put for the next two years, his position will almost certainly get larger as a percentage of the company owned as Apple wipes 100B worth of shares off the books resulting in concentration.