“The Oracle of Omaha is adding to his already large stake in Apple Inc,” Katherine Chiglinsky and Ivan Levingston report for Bloomberg. “Warren Buffett, 88, likes the technology giant because of its devoted customers, and has built up his stake in the company by ‘just a little’ since his last regulatory filing, he said Thursday in an interview with CNBC.”
“For customers, ‘the iPhone is enormously underpriced’ compared with the utility it offers, he said,” Chiglinsky and Levingston report. “Berkshire has been piling more money into Apple, increasing that stake to 252 million shares as of June 30. The investment is worth more than $50 billion and makes Berkshire the third-biggest shareholder in Cupertino, California-based Apple, with a more-than 5 percent stake, according to data compiled by Bloomberg.”
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MacDailyNews Take: AAPL itself is enormously underpriced, as well.