
Warren Buffett has been buying a lot of Apple shares recently, saying that he would buy even more at the right price. At Berkshire Hathaway’s annual shareholder’s meeting, Buffet endorsed Apple’s buyback program.
Buffett said that the buyback program would be the most effective use of the company’s cash. In a statement, he said:
“We would love to see Apple go down in price. I’m delighted to see them repurchasing shares.”
Earlier this week, Buffett revealed that he had bought 75 million additional Apple shares, which means that Buffett now owns approximately 5 percent of Apple. In his eyes, Apple is the perfect type of stock for Berkshire Hathaway because of the way the company operates.
“I love the idea of having our 5 percent, or whatever it is, maybe grow to 6 or 7 percent without our laying out a dime.”
Apple developers products that Buffett describes as being “extremely sticky, meaning that customers become attached to these products and in turn support Apple as a company.
[via Reuters]
Other articles in the category: News
New 2023 Sonos Speakers Named ‘Era’, Sonos Move 2 Coming: Report
Image: The Verge; Sonos Era speaker concept If you’re waiting for new Sonos speakers to launch in 2023, they are said to be coming soon, according to The Verge. The site says 2023 Sonos speakers will be called the Era 100 and Era 300, expected to launch in the coming months. These speakers were previously […]
Ministers Warn of ‘Waning Trust’ in CRTC in Letter to New Chair
Heritage Minister Pablo Rodriguez and Industry Minister François-Philippe Champagne on Monday sent a letter to new Canadian Radio-television and Telecommunications Commission (CRTC) chair and CEO Vicky Eatrides, congratulating her on her appointment and outlining the government's vision and priorities for Canada's telecommunications and broadcasting sectors. Eatrides started her five-year term last month, replacing replaces Ian...
Black Panther 2 Becomes the Most-Watched Marvel Film Premiere on Disney+ Worldwide
On February 1, Marvel Studios’ “Black Panther: Wakanda Forever” premiered on streaming service Disney+. Fast forward nearly one week later, Disney+ says the sequel to “Black Panther” is the most-watched Marvel film premiere on Disney+ globally, based on hours streamed in its first five days, according to press release sent to iPhone in Canada. “Black Panther: […]