“If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States,” Buffett told CNBC.
Buffett disclosed that his company has held around 133 million shares in Apple previous company’s record-breaking earnings results was on January 31, 2017. It was worth over $17 billion at that time and today it holds 240.3 million shares worth $42.5 billion.
Buffett has also recoiled away from financing in technology companies. But the business tycoon has suggested that he sees Apple more as a consumer company than investing. Berkshire’s latest Apple investment have suggested that it serves as a way of minimizing the corporate group’s $116 billion. Also without having to acquire as an entire company.
Apple has posted its profits of $61.1 billion with the net quarterly revenue of $13.8 billion in the first quarter of this year. It got up from revenue of $52.9 billion and net quarterly profit of $11.0 billion in the year-ago quarter.
Apple said it will start a new share recapture its dispensation of $100 billion following the record revenue and profit numbers. It will be gripping to see how Berkshire Hathaway who Bought 75 million Additional Apple Shares in Q1 will make revenues.