Berkshire Hathaway’s AAPL stake has increased by around $10B since the beginning of the year, we’ve learned today.
The conglomerate reported that it owned ‘over $40B’ as of the end of 2018, and CEO Warren Buffett said today that it now owned ‘$50B plus’ …
CNBC reports the new number, with Buffett saying he was ‘pleased’ by Apple’s latest earnings report – though Hathaway hasn’t bought any more shares since then.
There have been some variations in Berkshire’s AAPL holdings in the past, with a small decrease noted earlier this year, though Buffett has said in the past that nothing should be read into these small changes.
Apple shares are up more than 32% this year, including a boost from the iPhone maker’s better-than-expected first-quarter earnings report this week.
“I was pleased with what they reported,” Buffett said, while noting he never makes investment decisions based on a single quarterly report. “What they talked about and reported is consistent with the reason we own $50 billion-plus of Apple.”
Once dismissive of Apple due to its ‘unpredictability,’ Buffett said last year that Berkshire Hathaway’s AAPL stake would be 100% of the company if it were possible.
Berkshire’s AGM is on Saturday, at which Buffett is due to share his investment strategy and market outlook.
Apple this week reported $58B in revenue for its fiscal Q2 (calendar Q1), with five reasons likely explaining a positive response from investors.
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