The value of Warren Buffett’s Berkshire Hathaway’s investment in Apple rose by $9.8 billion in less than a day on Friday as Apple stock increased 7% on a strong earnings report.
Apple reported its last quarter earnings on Thursday. It reported $124 billion in sales with strong sales growth in every product except iPad.
Investors seemed keen on CEO of Apple Tim Cook’s opinion regarding improvement in supply chain headaches.
Buffett’s Berkshire Hathaway started taking Apple stock from 2016 and now owns more than 5% of Apple’s outstanding stock, as per the FactSet data.
W Buffett said in 2020, “I don’t think of Apple as a stock. I think of it as our third business. It is probably the best business I know in the world.”
CEO of Apple has also previously praised Berkshire’s investment in Apple. Cook said previously, “We run the company for the long term. And so the fact that we’ve got the ultimate long-term investor in the stock is incredible.”
