Berkshire Hathaway Inc. increased its stake in iPhone maker Apple
Inc. to about 133 million shares, Chairman Warren Buffett told
CNBC. That’s more than twice as much as Berkshire held as of Dec.
31, the billionaire told the cable network in an interview Monday.
The stake is valued at more than $18 billion, based on Friday’s
closing price of $136.66. […]
“Apple strikes me as having quite a sticky product and an
enormously useful product to people that use it, not that I do,”
Buffett said, praising Tim Cook, the technology company’s chief
executive officer. “He’s been very intelligent about capital
Buffett famously insists that he’s not a technology investor, but
says he bought Apple anyway, “because I liked it.”
“There’s a vast, untapped market up there,” Buffett said on CNBC,
where he disclosed the new purchase and showed off his existing
phone — not an iPhone, but a vintage flip model.