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Warren Buffett says Berkshire stays with Apple



Berkshire Hathaway clings to his sizeable Apple stake, Warren Buffett said.

"We have not changed our holdings [Apple]," Buffett said Thursday, on the eve of Berkshire Hathaway's kick-off, to Becky Quick of CNBC's annual general meeting in Omaha this weekend.

Apple shares rose more than 32% this year, including a rise in the first-quarter iPhone manufacturer's better-than-expected earnings report.

"I was pleased with what they reported," Buffett said, noting that he never makes investment decisions based on a single quarterly report. "What they've talked about and reported on is consistent with the reason we own more than $ 50 billion from Apple."

Berkshire owned the tech giant worth more than $ 40 billion late last year. The conglomerate had reduced its stake in Apple by almost 3 million shares in the fourth quarter of 201

8, but Buffett said at the time that the sale was not under his direction.

"Unless – and I have no reason to believe this is true – but there is a man who owns just over 1% of our office buildings, and I do not see what he does every day no reason to believe he bought or sold Apple, "added Buffett on Thursday. [19659003] The "Oracle of Omaha" first announced Berkshire's investment in Apple in February 2017, even though Chairman Buffett had the usual aversion to Tech shares. He told CNBC at the time that he clearly likes Apple and "we buy it to keep it."

Buffett told CNBC on Thursday that Berkshire has bought shares from Amazon.

Tens of thousands of investors are traveling Omaha for the annual general meeting on Saturday to hear from Buffett about his succession plan, his investment strategy and his market outlook.


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