Warren Buffett makes $9.8 billion a day on Apple shares

 Warren Buffett makes $9.8 billion a day on Apple shares

The value of Berkshire Hathaway's holdings in Apple jumped by $9.8 billion on Friday as shares of the company rose nearly 7%.

On Thursday (January 27), Apple reported quarterly earnings of $124 billion and strong sales growth across every product line except the iPad. Investors seem particularly interested in CEO Tim Cook's comments that supply chain headaches are improving.

Thanks to positive information, Apple shares closed Friday session (January 28) up 6.98% to $170.33. According to FactSet data, Berkshire Hathaway began accumulating Apple stock in 2016 and now owns 887 million shares of the iPhone maker, or more than 5% of the shares outstanding. Yesterday's increase helped the value of shares held by this group increase by $ 9.8 billion.

Berkshire Hathaway Chairman Warren Buffett. Photo: AP

Berkshire Hathaway Chairman Warren Buffett. Photo: AP

Billionaire Warren Buffett has been one of Apple's biggest backers since 2016, even though he initially considered high-tech investments too risky. Apple currently accounts for more than 40% of Berkshire Hathaway's portfolio.

Apple issues regular dividends, which Buffett considers attractive given his investment philosophy. "I don't think of Apple as a stock. I consider it our third business," Buffett said in 2020. He also called it "probably the best business I know in the world. gender".

Mr. Buffett also argued that Apple's iPhone ecosystem is "tight" and encourages customers to upgrade regularly, making it a safer investment and more like a consumer company than a company. technology company.

CEO Tim Cook has also praised Berkshire's investment in Apple. "We run the company for the long term. And so it's great for us to have long-term investors in our stock," Cook said in 2019.

The mutual admiration between the two business giants does not stop at investment. In 2019, Apple published a game based on Buffett's childhood, and it was featured at the Berkshire Hathaway shareholder meeting.