Tags: buffett | berkshire | apple | stock | year

Buffett's Berkshire 'Bought More Apple Than Anything Else' in Last Year

By    |   Monday, 26 February 2018 08:39 AM

Investing guru Warren Buffett says his Berkshire Hathaway empire has bought more stock in Apple Inc. than any other company in the last year.

"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 on CNBC's "Squawk Box" Monday.

Apple is now Berkshire Hathaway's second biggest holding, according to Buffett's annual letter released on Saturday.

Berkshire's largest positions also include Wells Fargo and Bank of America shares. The letter said the company had stock holdings totaling $170.5 billion in value at the end of 2017.

Buffett said the company's interest in Kraft Heinz is not included on the list because Berkshire is part of a "control group" and must use a different method to account for its holding. He said the company's position in Kraft Heinz had a year-end value of $25.3 billion with a cost basis of $9.8 billion.

Buffett was also asked why he still uses a flip phone instead of an Apple iPhone.

"Tim Cook asked me that. Well the answer is just I'm out of touch. 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," he said.

Meanwhile, Apple's next big thing will likely be a large dividend increase financed by a tax cut on its overseas profits, but the famously secretive company isn't giving any clues about how big it might be.

CEO Tim Cook had an opportunity to address the issue at Apple's recent annual meeting, when a shareholder asked if the iPhone maker might double its current quarterly dividend of 63 cents per share, the Associated Press reported.

Not surprisingly, Cook dodged the question, rising from his seat because he said it suddenly felt "a little hot." He all but guaranteed that Apple's board will raise the dividend in April, as it has done each year since the company reinstated the shareholder payments in 2012. But didn't giving any other specifics.

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Buffett's Berkshire 'Bought More Apple Than Anything Else' in Last YearInvesting guru Warren Buffett says his Berkshire Hathaway empire has bought more stock in Apple Inc. than any other company in the last year.
buffett, berkshire, apple, stock, year
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2018-39-26
Monday, 26 February 2018 08:39 AM
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