Warren Buffett stays high on Apple despite iPhone slump

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The Oracle of Omaha is still in love with AAPL.
The Oracle of Omaha is still in love with AAPL.
Photo: CNBC

Apple’s big pause in iPhone sales leading up to this year’s new models isn’t worrying one of the company’s biggest investors.

Berkshire Hathaway CEO Warren Buffett says he loves what Apple is doing with its buyback program for investors and even though sales are slow, the stock is still a great buy.

Trouble in China, iPhone slump and other Apple earnings surprises

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How will investors respond to Apple's relatively flat earnings?
How will investors respond to Apple's relatively flat earnings?
Photo: Ste Smith

Apple’s Q2 earnings report for 2017 just barely beat Wall Street’s expectations when the numbers were revealed this afternoon, but there are plenty of reasons to still be optimistic about AAPL.

During the company’s call with investors today, Apple CEO Tim Cook and CFO Luca Maestri discussed some of the struggles the company experienced last quarter, from slumping iPhone sales to economic headwinds in China.

Here are the biggest takeaways:

Liveblog: Just how good (or bad) was Apple’s Q2?

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apple earnings
Apple's money-making machine is on a new level.
Photo: Steve Smith

Apple beats expectations in Q2 2017 earnings report

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Apple is raking in the cash.
Apple is raking in the cash.
Photo: Ste Smith/Cult of Mac

Apple just posted its earnings for Q2 2017 and while the numbers aren’t as monstrous as last quarter’s, there’s a lot to love in the new report.

With revenues hitting $52.9 billion, Apple returned to growth for the second straight quarter with $11 billion in profit. iPhone sales were down year-over-year, but Apple CEO Tim Cook says demand for the iPhone 7 Plus is still high.

What to expect from Apple’s Q2 2017 earnings report

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Tim Cook and Luca Maestri will reveal Apple's Q2 earnings.
Apple made a ton of money last quarter.
Photo: Jim Merithew/Cult of Mac

Apple’s cash pile heads for $250 billion milestone

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Apple raked in the cash last quarter.
Apple raked in the cash last quarter.
Photo: Jim Merithew/Cult of Mac

Apple’s second quarterly earnings report of 2017 will likely reveal the company now has over a quarter of a trillion dollars of cash stashed in the bank.

The iPhone-maker has so much cash its reserves exceed the foreign-currency reserves of the U.K. and Canada combined. During the last quarter of 2017, Apple’s money-making machine was earning $3.6 million per hour.

Apple shares reach new high as analyst predicts $200 price

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apple stock price
AAPL shares are on the rise.
Photo: Buster Hein/Cult of Mac

Share prices of Apple Inc. hit yet another record high during trading today, setting a new top mark of 143.80 by the time the market closed.

Apple shares were trading up nearly 3% on Tuesday thanks to an investor note from UBS analyst Steven Milunovich who predicts the stock price could shoot up past $200 in the next two to three years.

AAPL shares soar to new all-time high

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Apple's stock is on the rise.
Apple's stock is on the rise.
Photo: Buster Hein/Cult of Mac

A ringing endorsement from mega-investor Warren Buffett has helped push Apple’s stock to a new record high today.

Apple shares were trading up 2.04% and closed at an all-time high of $139.78 per share, beating the company’s previous top mark of $137.11 set last week.