Warren Buffett, the legendary investor and big-time Apple booster, now has a share of the company worth upward of $100 billion.
Even more impressive? Buffett’s firm Berkshire Hathaway reportedly spent on around $35 billion to secure its 5.7% stake in Apple. That’s a pretty darn great return on investment — and Apple’s only climbing higher.
Apple has had a great year so far, climbing more than 42% in 2020 to date. At time of writing, AAPL is trading at $439.12. At its lowest this year, it was worth “just” $224.37 on March 23. That was the nadir in Apple’s fortunes due to the coronavirus pandemic. Apple has announced that AAPL shares are due to split 4-to-1.
Today, Apple shares make up some 43% of Berkshire Hathaway’s entire stock portfolio. Buffett’s faith in Apple is particularly impressive, despite the fact that, 10 years ago, Buffett famously said he just didn’t get Apple.
Buffett’s view on Apple has obviously changed since then. But he still doesn’t use Apple technology regularly. Earlier in 2020, Buffett talked about receiving a personal iPhone lesson from Tim Cook — only to still not understand exactly how it works. “I went out to California, and Tim Cook very patiently spent hours trying to move me up to the level of the average two-year-old,” Buffett told Yahoo Finance editor-in-chief Andy Serwer. “And didn’t quite make it.”
Apple’s market cap is currently $1.87 trillion. Amazon, by comparison, is worth $1.58 trillion. Microsoft is valued at $1.6 trillion. Google is worth $1 trillion. And Facebook is valued at $719.3 billion.
Source: Business Insider
