It wasn’t that long ago that Warren Buffett, probably the world’s most famous investor, said that he just didn’t get get Apple and wasn’t investing in it as a result.
To quote the late Biggie Smalls, “things done changed.” In a new interview with CNBC, coinciding with Buffett’s 88th birthday, the now-Apple-loving financial titan shared his thoughts on a number of topics — and you can bet that the iPhone was among them!
A regulatory filing from earlier this month showed that Buffet’s investment firm Berkshire Hathaway now owns close to 252 million Apple shares, having significantly ramped up its holdings in recent years. That makes it among Apple’s biggest investors. Asked if he had added to his stake since the filing, Buffett said the firm had “bought just a little.”
Buffett echoed Apple’s long-term vision by saying that, “I do not focus on the sales in the next quarter or the next year.” Instead, he’s impressed by how big a part of people’s lives Apple (and, specifically, the iPhone) has become. “Hundreds and hundreds and hundreds of millions of people … practically live their lives by it,” he said.
Buffett also admits that he uses his iPad “a lot,” which represents a change from previous interviews in which he’s painted himself as someone who doesn’t really enjoy using new technology.
Warren Buffett should love Apple
Warren Buffett has every reason to love Apple, of course. Earlier this year, following Apple’s amazing last quarterly earnings, the company’s stock price spiked 6 percent. As a result of Berkshire Hathaway’s enormous number of Apple shares, the firm likely made upward of $2.6 billion in a single day.
Check out CNBC‘s interview with Buffett below: