According to his latest Q1 2022 13F, Warren Buffett purchased another 3,787,856 shares in Apple Inc, which means he now owns 890,923,410 shares in the company. This equates to 43% of his entire portfolio. In his 2021 Berkshire Hathaway Annual Meeting he explained why the iPhone, such as a Refurbished iPhone, is indispensable to people. Here’s an excerpt from the meeting:
Buffett: So it’s an extraordinarily– Apple– it’s got a fantastic manager. Tim Cook was underappreciated for a while. He’s one of the best managers in the world. And I’ve seen a lot of managers. And he’s got a product that people absolutely love. And there’s an installed base of people, and they get satisfaction rates of 99%.
And I get the figures from the Furniture Mart as to what’s being sold. And if people come in and they want an Android phone, they want an Android phone. If they want Apple, they want an Apple phone, you can’t sell them the other one. The brand and the product, it’s an incredible product.
It’s a huge, huge bargain to people. I mean, the part it plays in their lives is huge. I use it as a phone, but I’m probably the only guy in the country, you know. Maybe some descendant of Alexander Graham Bell is doing the same thing. But it is indispensable to people.
And you know, it costs, you know, a car costs $35,000 and I’m sure with some people if you asked them whether they wanted to give up– had to give up their Apple or give up their car, you know, and really make the choice for the next five years, you know, who knows what they’d do?
You can watch the entire discussion here:
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