Buffett says Apple is Berkshire portfolio's best business

📆 07/05/2023 05.45.00
📰 Reuters

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Warren Buffett said on Saturday that Apple Inc is a better business than any other in Berkshire Hathaway Inc's portfolio.

"Apple is different than the other businesses we own. It just happens to be a better business," said Buffett during Berkshire's annual meeting in Omaha, Nebraska.

Berkshire revealed a $1 billion stake in Apple in May 2016, and by March 2023 had boosted that stake to $151 billion, accounting for 46% of its $328 billion equity portfolio, Buffett has long praised Apple CEO Tim Cook, and viewed Apple less as a technology company and more as a consumer products company with a dominant product, the iPhone, that people want and need.Reporting by Jonathan Stempel in Omaha, Nebraska and Carolina Mandl in New York; editing by Diane Craft

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