“Why Warren Buffett Considers Apple to be the Best Company? | Berkshire Hathaway Shareholder Meeting”

Berkshire Hathaway, a holding operating in the North American market, held a shareholders’ meeting last week. During a speech to shareholders, the founder of the holding, Warren Buffett, expressed his opinion about Apple.

Details

The group’s investment portfolio includes shares of American Express, Coca-Cola, Chevron, Apple, BofA, and others. According to Buffett, he considers Apple the best company. Americans will be quicker to give up buying a second car than an iPhone. Even if Apple raises the prices of its mobile devices, they will still be in demand.

The holding founded by Buffett began investing in the purchase of Apple securities in 2016. The billionaire has repeatedly stated that he knows nothing about consumer electronics. However, he understands consumer behavior very well. The latter are willing to pay 1,500 USD for a smartphone. These same people buy a second car for 35,000 USD. If they are given a choice between a second car and an iPhone, then they will certainly choose an Apple smartphone. This state of affairs is explained by the fact that the iPhone is an extraordinary product.

Berkshire Hathaway owns a 5.6% stake in Apple. Its market value is 116 billion USD. It has been steadily increasing over the past few years.