Charlie Munger, investment company Berkshire Hathaway’s vice chairman, laid out high praise for Apple during an interview with Yahoo! Finance on Thursday. He called the Cupertino juggernaut “ungodly well-managed.”
He also described Apple as “one of the strong companies” and said he expects it to remain so.
Apple ‘ungodly well-managed’ and will ‘stay a strong company’
Despite the fact that Munger and famed Berkshire Hathaway chairman Warren Buffett have often referred to their lack of tech industry experience, Apple is the investment firm’s largest stock holding. And it’s far from the only one, with the firm strengthening its foothold in tech over time.
In the Yahoo!Finance interview, Munger revealed a main reason why Berkshire believes in Apple. And it has to do with management.
“I think Apple is one of the strong companies and will stay a strong company,” Munger said. “I think it’s ungodly well-managed.”
Munger also talked about Apple’s enduring popularity.
“I judge the strength of the company based on how much the customers love it,” he said. “And I’ve got zillions of friends who they’d almost part with their right arm before they’d part with their iPhone. That’s a hugely powerful position to be in.”
Warren Buffett’s a fan, too
This does not mark the first time Berkshire Hathaway’s influential voices have spoken well of Apple. In May 2021, during a shareholders meeting, Warren Buffett called Apple CEO Tim Cook “one of the best managers in the world.” But that same year, he also admitted selling off too much of the stock was “probably a mistake.” It cost Berkshire $20 billion.
And Apple has experienced strong growth recently, recording some of its best earnings quarters to date during the pandemic. In the past year, Apple’s stock price is up nearly 30%, outpacing competitors like Amazon, Google and Microsoft.