Berkshire Hathaway, a conglomerate which is founded and run by Warren Buffet had purchased 75 million AAPL shares during the first quarter and now it being reported that there are talks of buying more shares by them.
At the Bershire annual shareholder meeting, Warren Buffet praised Apple for creating extremely sticky products that lure in more customers to the buyer’s ecosystem and that is quite healthy a symbol.
The conglomerate which is currently the third largest shareholder of apple shares has expressed interest towards purchasing more shares and such shows the confidence the conglomerate has towards apple.
Buffet has also appreciated and praised Apple’s announcement of $100 billion share buyback program. The company had announced last week its plan to use some of the excess cash to repurchase shares and increase the dividends.
The decrease in the total outstanding shares would mean an increase in the stake of Berkshire by 5% and such is surely happy news for the conglomerate headed by Warren Buffet.
Also, this very relation of confidence between Berkshire Hathaway and Apple is quite a happy news for the Apple CEO Tim Cook.