“I feel like I’ve lost a piece of my soul,” the 90-something told one of Buffett’s lieutenants,appleLongtime fan of Ted Weschler.
Weschler shared the Gotzman story with Buffett. Buffett was surprised to learn that a friend of his age was so obsessed with Apple’s device. Buffett has been known to shy away from tech stocks, arguing that they are out of his “sphere of competence.”
Buffett noticed people’s interest in intelligencecell phoneThe level of obsession, including when his grandchildren go to Dairy Queen every week. he thinksiPhoneIndispensable for a lot of people, and for a long time.
Tripp Mickle, author of the new book, wrote: “He realized that Weschler was right: the iPhone was not a tech product, but a modern version of Kraft Macaroni and Cheese.”
At the time, Weschler had built a $1 billion Apple position in Berkshire, but Buffett poured another $35 billion into it over the next few years. The value of the investment has more than tripled since then, with the value of its stake soaring to $133 billion. Apple is undoubtedly the most valuable stock in Berkshire’s current portfolio, and Berkshire is Apple’s largest individual shareholder.
Buffett ranks Apple as one of the best businesses he knows. In his 2021 letter to shareholders, he listed Berkshire’s investment in Apple as one of Berkshire’s four pillars alongside its traditional insurance business, BNSF Railroad and Berkshire Hathaway Energy. one.
It is worth noting that Buffett slightly increased his holdings of Apple shares in the first quarter. As of the end of the first quarter, Buffett held about 911 million shares of Apple, accounting for about 5.6% of the company’s shares.
