Warren Buffett says Berkshire Hathaway will continue to hold a large stake in Apple.
“We haven’t changed our ownership (of Apple),” Buffett told CNBC on Thursday.
Since the beginning of this year, Apple's stock price has risen by about 32%. After the release of favorable financial reports a few days ago, the stock price soared, and the market value once returned to the 1 trillion US dollar mark.
"I'm very happy with their earnings report," Buffett said, but he also noted that he never makes investment decisions based on a single quarterly report. "What they talk about and report is consistent with why we own more than $50 billion of Apple assets."
Berkshire held more than $40 billion worth of shares in the tech giant at the end of last year, according to its 2018 annual report. The group reduced its stake in Apple by nearly 3 million shares in the fourth quarter of 2018, but Buffett said at the time that reductions were not under his guidance.
Buffett first announced Berkshire Hathaway's investment in Apple in February 2017, and despite his general aversion to technology stocks, he said at the time that he clearly liked Apple and "we buy Apple to hold."
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