Starting with 10 million shares in 2016, Warren Buffer now owns 895 million Apple shares
” @tim_cook is one of the classiest CEOs and he understands the business. Tim Cook has managed that company in an extraordinary way,” says Warren Buffett on $AAPL. “It’s a wonderful business so we own a lot of it.” pic.twitter.com/1lVUNIfgnT
— Squawk Box (@SquawkCNBC) April 12, 2023
More interesting is what Buffet thinks about the iPhone. Pay attention to what he said this morning. “If you’re an Apple user and somebody offers you $10,000, but the only proviso is they’ll take away your iPhone and you’ll never be able to buy another, you’re not going to take it,” said Buffet. “If they tell you if you buy another Ford car, they’ll give you $10,000 not to do that, you’ll take the $10,000 and you’ll buy a Chevy instead.”
Buffet admits that he doesn’t understand AI and ChatGPT
Buffet added, “It just doesn’t know how to tell jokes, but it can tell you that it’s read every book, every legal opinion. I mean, the amount of time it could save you, if you were doing all kinds of things, is unbelievable.”
Buffet is known as a fundamental long-term investor which means he eschews trendy stocks, charts, etc. He looks for companies that are trading below their intrinsic value, have a steady stream of earnings that will continue into the future, and are trading at a relatively low multiple of earnings.
