In his annual letter to Berkshire shareholders on Saturday, Buffett called Tim Cook's Apple his 'runner-up Giant' next to the cluster of insurers.
, the conglomerate of mostly old-economy businesses he's assembled over the last five decades.
"Tim Cook, Apple's brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim's managerial touch as well," theThe "Oracle of Omaha" made clear he is a fan of Cook's stock repurchase strategy, and how it gives the conglomerate increased ownership of each dollar of the iPhone maker's earnings without the investor having to lift a finger.
Berkshire began buying Apple stock in 2016 under the influence of Buffett's investing deputies Todd Combs and Ted Weschler. By mid-2018, the conglomerate accumulated 5% ownership of the iPhone maker, a stake that cost $36 billion. Today, the Apple investment is now worth more than $160 billion, taking up 40% of Berkshire's equity portfolio.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Apple is developing a foldable MacBook with a 20-inch screen | Digital TrendsApple might have a new foldable product category in the works while fans wait for the first foldable iPhone.
Leer más »
Apple could soon fix Face ID issues without replacing the entire iPhoneYou may be able to keep your phone now.
Leer más »
How Apple Watch Is Quietly Transforming Volvo Vehicle ServicingApple has long promoted its business capabilities, and now a new app from Volvo means service technicians are using Apple Watch to improve performance.
Leer más »
Apple mixed reality headset may launch in 2022 after all | Digital TrendsApple's mixed reality headset has passed another design milestone. This puts the device on track for a potential 2022 release, but there are still hurdles.
Leer más »
Apple VR headset may come with Micro LED display, M1 chipA new report sheds some more light on Apple's upcoming VR headset.
Leer más »
Sacha Baron Cohen in Talks to Join Alfonso Cuarón’s ‘Disclaimer’ Series at Apple TV+Sacha Baron Cohen is in talks to join Cate Blanchett and Kevin Kline in Alfonso Cuarón’s ‘Disclaimer’ series.
Leer más »