Buffett Bought 75M Apple Shares During Q1; Total Stake Now Worth $42.5B

Warren Buffett took a break from explaining his views on bitcoin to pop star Katy Perry to reveal during an interview this week that Berkshire Hathaway bought another 75 million Apple shares during the first quarter - bringing Berkshire's total stake to 240.3 million shares worth roughly $42.54 billion.

Chart

That's nearly twice as much stock as Apple itself bought back during the first quarter as it marshaled a flood of repatriated profits unleashed by the Republican tax reform law to carry out the largest corporate buyback in US corporate history.

Apple

Buffett disclosed his latest purchases Thursday evening after Apple smashed expectations with its first quarter earnings report - allaying fears that iPhone X prices was "too damn high" and was therefore weighing on sales. Meanwhile, a "spectacular" miss by a crucial Apple supplier stoked alarm among investors that the most valuable US company might similarly disappoint.

"It is an unbelievable company," Buffett told CNBC.

"If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States."

Tomorrow, Berkshire will release its Q1 earnings report during its annual shareholders meeting - a weekend-long event on Omaha that has been described as "Woodstock for Capitalists".

Apple

After its latest purchase, Berkshire is now Apple's third-largest shareholder (despite what the chart above says). Apple shares tumbled during the first quarter - most notably during the FAANG selloff in February - providing ample opportunity for Buffett to snap up shares at a discount.

Watch his full interview with CNBC below:

AAPL stock is up in the pre-market following the Buffett news...

Comments

J S Bach BaBaBouy Fri, 05/04/2018 - 08:51 Permalink

I know people on this site hate Apple.  I, however, have been a Mac user since my dad bought a Mac Plus in 1986.  (It still works along with several PowerBooks from the 90s.)  Never had a virus of any kind and never crashed during my work.  I just gave my son one of my MacBookPros which he uses mostly for limited gaming.  We partitioned his hard drive so that Windows 10 could operate on it as well.  Within 3 days, it had contracted some kind of annoying virus which took 2 days to rectify.  I told him to be prepared for this if he chooses to use that platform on his computer.  I also have an iPhone which has served well.

Look... I KNOW there's a flaming butt stabber now running the company.  👨‍❤️‍💋‍👨  I KNOW how overpriced and "exclusive" Apple hardware is.  But, to me, it's always been worth it knowing my machines will operate flawlessly and without being corrupted from the outside.  I also bought Apple stock at $90 five years ago.  Go ahead and down-vote this... we're all free to make choices. 💻📱

In reply to by BaBaBouy

monopoly J S Bach Fri, 05/04/2018 - 09:15 Permalink

JS. Could not agree more. My first Mac back in the day was an SE back in 1988. Never had a virus, Apple support is very good. And my Macbook Pro and iMac along with my Iphone are just fine. Yes, I pay more, but to me, it is worth the cost for peace of mind. Never understood why good people here bash Mac products.

In reply to by J S Bach

Eyes Opened J S Bach Fri, 05/04/2018 - 09:46 Permalink

"it's always been worth it knowing my machines will operate flawlessly and without being corrupted from the outside. "

 

And thats mighty fine Mr. B... but have you seen some of the youtube vids of techies who are finding such things as warranty replacement iphones being water-damaged refurb units...

Or Apple using OS upgrades to lock out non-OEM screens & even OEM screens not fitted by Apple-approved tech...

They are using sharp practice & fucking customers around re. repair/replacement...

And lets not forget the OS upgrade fucking with battery life to make you buy a newer model... 

 

I don't like their business practices ... even if they have made quality products in the past ...pissing on your customer base is never a smart move...

😠😠😠

In reply to by J S Bach

bshirley1968 Eyes Opened Fri, 05/04/2018 - 10:03 Permalink

I am no Apple fan as they have become the epitome of the "1984" commercial they ran.
As far as their products go, I find nothing special about them. And no one designs a "virus" for a machine from pre-1995. People design viruses to attack the maximum possible targets.....so a lot of older mac machines don't make the cut.

As far as an investment goes, they are a has been. Someone rightly pointed out the need to keep gay boy and this tech icon on top of the world so that agenda can maintain the appearance of "winning". Their best days are long behind them. They have jack shit in the pipeline.

Buffet has to play along so he can continue to get insider information. He is the number one sheeple stawk shill. He must always be right.....because you can be a billionaire too if you just keep playing the game and be patient.

In reply to by Eyes Opened

interrupt J S Bach Fri, 05/04/2018 - 12:10 Permalink

Fair play to you for buying AAPL five years ago but to get into it to the tune of 75M shares *today*, I don't get. We have got to be at or at the very least, close to peak Apple. The company used to be head and shoulders above the competition but that is no longer the case, both in the computing and phone markets, the competitors are producing just as polished products, often for less money.

Also, if you keep your Windows 10 OS updated, it's extremely unlikely to be compromised. My PC has been connected to the internet for 10 years and I have never had a problem. And I don't use Anti Virus software - it's not necessary. Just keep installing every patch that Microsoft release and you'll be fine. No one is going to waste a valuable zero-day exploit on your average Joe.

In reply to by J S Bach

vaporland homiegot Fri, 05/04/2018 - 08:36 Permalink

I love the smell of dumping iBM in the morning... It smells like... victory!

Seriously though, IBM once earned 70% of all profits in information technology.

For two decades.

Then they made the deal with bill gates.

Now, they're history.

Theme song for IBM Cloud: Jump Into The Fire

I'm not kidding - watch their stupid commercials.

In reply to by homiegot

21st.century Fri, 05/04/2018 - 08:29 Permalink

Buffett, once again, revealing himself as the Vulture of Omaha . If any one person can represent the evil of cronyism, political corruption and phoniness - produced and created by corrupted media- then it's Buffett.

as loathsome as the cynical fdr was-- he got one thing right-- he despised stock, holding companies -- as they produce nothing.

Jabba-the Munger is in there too. he's 95 +/- , and just lays there off to the side and lets buffett gas on with the smilin' grandpa shuck-n-jive --- financial media there licking their hooves - sickening . 

BankSurfyMan Fri, 05/04/2018 - 08:33 Permalink

Fake Book @174 no div or yield...  Apple @177 div 2.50 yields nearly 1.5% ...

Fake Book PE 32 price target 216 ~ Apple PE 18 price target 195 ... Fake book has a wonderful future! LMFAO. NEXT!

Sick of Govern… Fri, 05/04/2018 - 08:43 Permalink

So Now after Apple has been up 5 days in a row, people will buy in because of this?  He bought it at the beginning of the year when everything sold off big time in January......  He didn't buy it at these prices!!  This is to get people to buy so Apple doesn't have to buy back as much after busted earnings, etc. The more people buy Apple, the richer they Make Buffet and the Apple Company.

**Ok, really someone is going to down arrow this post when it is pure truth.  Futures were down, major stocks were down and Apple was up $3+ dollars.  

21st.century Fri, 05/04/2018 - 08:55 Permalink

Berkshire needs to be assigned its own regulator-- make it a team of regulators. 

use all tools against them..... remember the days when warnings of "dangerous concentrations of wealth" need to be regulated ? yeah, cronyism in the person of buffett surely qualify. 

sell KO -- they make poison . 

 

highwaytoserfdom Fri, 05/04/2018 - 10:11 Permalink

people think that Buffet and Gates are some sort of heroes... Buffet 2T Solomon bond scandal was propagandized for Gubberment insiders. You are right Solomon was the largest tenant in Building 7... Then the General RE insurance scam and did you notice the huge % drop in car insurance when Romboma care was put in.. We won't even go into Goldman 2008 stock manipulation.. Will mention that Graham Buffets "mentor" died broke and was not because he left a Tesla legacy. Buffet made a fortune on railroads by regulating high/low sulfur coal shipments. For what Wage arbitration for polluting China child slave workers. It is not for nothing we hate Apple.. Very much Mandela effect by globalist.

There a one trick pony and https://tinyurl.com/y74xsnpw now there solution is war and Bernays, Freud,Darwin, Abrahamist stories to murder people... Stories getting old on Lincoln,Churchill,Marx,Mao,FDR, Stalin.. Now very very dangerous people who's only solution democide. The only thing I can do not support the worst players.

JailBanksters Fri, 05/04/2018 - 10:30 Permalink

Actually there worth zero

They're not worth a cracker until you sell them, and that depends how much somebody else is prepared to buy them for. You might as well say they're worth a Bazillion Gazillion dollars.

 

youngman Fri, 05/04/2018 - 10:33 Permalink

He bought it for one reason only...Trumps tax cuts are going to bring back Apples money to the USA and a big dividend and buybacks will come from it....and he was a Clinton fan bigtime....

JLarryL Fri, 05/04/2018 - 11:36 Permalink

If Buffett was that clever he should have loaded up years ago.

But at least now we know who's been holding up Apple's shares.

Facebook next?

Grandad Grumps Fri, 05/04/2018 - 11:52 Permalink

Warren "taking one for the team".

Ya know, I have heard that these rich and powerful guys, upon reaching their death-beds start to reconsider their lives. My father was neither rich nor powerful, but he spent the last year of his life essentially bedridden. It gave us an opportunity to talk a bit. He was very afraid of dying. Apparently when he was asleep he would be taken off to a place that frightened him. We would ask him about it and he would just say "you don't want to know".

I thought that this was not good. So, I asked him if he wanted to be baptised and introduced to Jesus Christ. He said yes. So, I baptized him and with his agreement claimed his soul for Jesus Christ. I had to fight a demon (something I had learned to do when I needed help and prayed for it from Jesus Christ). The fight started in the day and then continued in the night when I was alseep ... but I knew that we had won. He then slept better and was able to die in peace. There is a little more to the story.

I think it was three days after he died that I was lying in bed asleep and I was woken by a voice coming out of my wife. Five times it said "please help"... and so I sent energy that had built up in my body to the voice and the voice stopped calling. Several days later my mother told us that she had been given a sign form my father. She was listening to the song "Stranger in Paradise" and the CD had skipped (a CD skipping???? ... not like it is an LP). And then she told me of something else that I forgot. I guess my dad made it. He was not perfect in his life and he had to pay a price... but in the end I think it turned out OK.

We will see about Warren. I think it may be different for those who have accepted Satan's gifts and have been initiated with an oath. Not sure Warren has the time left to pay the price in the physical world.