Warren Buffet's holding company bought 75 million shares of Apple during Q1

Warren Buffet's holding company bought 75 million shares of Apple during Q1
Famed investor Warren Buffet obviously wasn't in "Full Panic Mode" over Apple's shares like the rest of Wall Street was. In fact, during the first quarter Buffet's Berkshire Hathaway holding company purchased 75 million shares of Apple at an unknown price. Combined with the 165.3 million shares of Apple that Berkshire already owned, Buffet's investment vehicle controls 240.3 million Apple shares valued at $42.6 billion at Thursday's closing price of $176.89.

This weekend, Berkshire will hold its annual shareholders meeting and 40,000 will attend, hoping to get some pearls of investment wisdom from the Oracle of Omaha. On Saturday, Buffet's company will release its latest quarterly earnings report, which will include some information on Berkshire's top ten holdings including Apple.

Apple has soared from last Friday's close of $162.32 to the aforementioned close on Thursday of $176.89, a 9% hike. The company released its fiscal Q2 earnings after the market closed on Tuesday. Even though the company sold slightly fewer iPhone units than expected (52.2 million vs. 52.4 million), and the Average Selling Price came in under consensus ($728 vs. $740), investors were happy to hear from Tim Cook that the iPhone X has been the firm's top seller since its launch. Once the report came out, the stock popped and has been rising since.

source: CNBC

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5 Comments

1. piyath

Posts: 2445; Member since: Mar 23, 2012

Entire smartphone industry shrunk during March quarter but Apple sold more iPhone than ever before on a Q2. 0.2 million miss is very understand given the climate of the market. But who said Apple will achieve $740 ASP?? Not Apple.That's analyst's bs.

2. worldpeace

Posts: 3092; Member since: Apr 15, 2016

"Entire smartphone industry shrunk during March quarter but Apple sold more iPhone than ever before on a Q2" Nitpicking only the side that you like? lol.. I can do that too.. iPhone YoY only rise 2.8% compare that to Xiaomi's 87% YoY increase.. and Apple ship 52.2 million in 1Q18, compare that to 77.3 million units in 4Q17 It's a shame that anniversary edition with brand new design only increase shipment by 2.8%. next quarter will be even worse for them

4. kiko007

Posts: 7469; Member since: Feb 17, 2016

How you gonna complain about him cherry-picking data, then do the exact same thing in your reply? Smh.

5. midan

Posts: 2557; Member since: Oct 09, 2017

"next quarter will be even worse for them" According to Apple, next q going to be record quarter, just like earlier.

3. HugoBarraCyanogenmod

Posts: 1409; Member since: Jul 06, 2014

Funny, I thought Warren buffet hates tech shares

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