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‘We’ve Bought More Apple than Anything Else’, Says Warren Buffett
In a recent interview with CNBC, the chairman and CEO of Berkshire Hathaway Warren Buffett has explained why Apple is such an attractive investment, while highlighting that he has invested in Apple stock more than anything else in the last year.
Buffett also shared Berkshire Hathaway’s largest stock positions in a recent letter to shareholders, showing Apple as its second-biggest holding. The letter said the company had stock holdings totaling $170.5 billion in value at the end of 2017.
“If you look at our holdings, you would assume that we like them in the order in which they rank by dollar value of holdings, but if you look at them in terms of recent purchases over the last year we’ve bought more Apple than anything else,” he said in a wide-ranging interview Monday on CNBC’s “Squawk Box.”
“Apple has an extraordinary consumer franchise,” he said. “I see how strong that ecosystem is, to an extraordinary degree. … You are very, very, very locked in, at least psychologically and mentally, to the product you are using. [IPhone] is a very sticky product.”
When asked why he still uses a flip phone instead of an Apple iPhone, Buffet revealed that Tim Cook had also asked him the same question. “Well the answer is just I’m out of touch”, he said. “But I tell Tim, as long as I haven’t gotten one the market is not saturated. The day I buy one, there is probably nobody left after that”.
Apple shares saw an increase of 2.1% during early trading today.
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This really doesn’t explain much. Why did they choose to invest so much in Apple rather than say, Amazon?
The ecosystem: “I see how strong that ecosystem is, to an extraordinary degree. … You are very, very, very locked in, at least psychologically and mentally, to the product you are using. [IPhone] is a very sticky product.”
I agree – I feel very locked in. I think there are now finally better phones out there (only took about 8 years for them to catch up lol) but it would be too painful to switch now.
there’ll always be a better phone with faster processor, better graphics, better camera and benchmarks higher than iPhone does, but is it really worth it dealing with crappy android system with zero support? just for that I’d stay within apple.
Yeah, but I don’t like the direction they’re going. There used to be two ports on all iPhones, now there is only one. There used to be an escape key on all Macs, now there isn’t. Less ports on MacBooks – who wants that? MagSafe was cool – they got rid of it. Windows and Chromebooks and iPads and android devices and everything you can think of have gone touchscreen, but not Macs. They went from four buttons on iPhones to three. Why? If buttons are so bad, why not get rid of all of them? Makes no sense.
Yeah I hear you. I don’t agree with some of their decisions, and there have been quite a few of them lately. I hate it when they shove Apple Music in your face and render music app almost useless for non-subscribers. Not being able to customize the buttons at the bottom is a huge blow to the past. I was worried about the headphone jack before switching to a newer model but it didn’t bother me as much as I thought it would. Even my parents know how to connect a phone to a Bluetooth speaker now. Next step is to bring them to airplay.
Prob the biggest problem I have with Apple is Apple Music. Unless they stop randomly recommendomg hip pop ghetto music every 2 seconds I’d stick to Spotify.
That’s the whole point…. To lock you into their ecosystem to the point where it’s very painful to even consider leaving. It’s a walled garden but it’s a nice garden! I think they’ve been more successfully on some fronts than on others though. For me the biggest pain point in switching from iOS to Android was losing iMessage. There are plenty of platform-independent messaging apps (Whatsapp, Facebook Messenger, Signal, Google Allo etc) which pretty much give you the same features but iMessage as a built-in first party app is guaranteed to be on every iOS device (even if it’s not being actively used). That’s a huge advantage. Back in the day Blackberry did the same thing with BBM and Apple wisely copied them with iMessage. Ditto with Facetime. There are many other platform-independent video calling apps (Skype, Tango etc) but the fact that Facetime is on every iOS device means that there’s no need to get all of your iOS contacts to download a separate app.