Warren Buffett Speaks About Why He Chooses Apple Stock

Warren Buffett Speaks About Why He Chooses Apple Stock

Jain, who oversaw Berkshire's reinsurance unit, now manages all of its insurance businesses. That's for two reasons: the company's assets and its culture.

One measure would have encouraged the company to produce a report on its efforts to limit methane emissions from its pipelines and storage facilities.

Buffett said their promotions have been "very, very good" for the company.

Months earlier, many grew increasingly concerned that Apple's top-of-the-line phone has been a dud among consumers, due to its hefty US$1,000 price tag.

"We are attacking an industry moat", Buffett said.

Apple rose almost two percent more on Monday, bringing the company's value to more than $940 billion. If I'm investing in Apple, I want people to think Apple is bad because they're repurchasing shares and it will go up faster.

"We want our employees to get better medical services at lower cost", Buffett said.

Berkshire Hathaway is off.09% on the year.

CEO Warren Buffett says that in hindsight he should have bought more Visa and MasterCard, but he wasn't smart enough to recognize the opportunity. "And we could buy a lot of it". "You make a conclusion based on what the asset itself will produce over time and that's an investment", Buffet dispensed.

The three companies announced plans in January to launch a new company aimed at cutting healthcare costs for their US employees.

The three companies are still working to hire an executive to lead the initiative.

Wells Fargo had been trying to fix its reputation after admitting in 2016 that employees opened as many as 2 million accounts without getting customers' permission to meet aggressive sales targets.

Buffett, famed for his love of junk food, has said spiraling healthcare costs are responsible for 18 percent of USA gross domestic product, up from 5 percent in 1960, and he wants to slash a few percentage points off.

Warren Buffett's bullish take on Apple has sent investors flocking to the tech giant. "Now that is not something, I think, the world needs", he said.

Charlie Munger's response, a deadpan, "No".

For a second straight day, the iPhone maker's stock hit a fresh record closing high Monday and moved closer to a $1 trillion market capitalization after the chairman and CEO of Berkshire Hathaway revealed that his company had added 75 million shares to its investment.

CNBC anchor Becky Quick spoke with both billionaires, as well as Berkshire Hathaway vice chairman Charlie Munger, about Apple. Buffett said he still spends most of his time reading about businesses, thinking and fielding the occasional phone call.

Before the Berkshire annual meeting on Saturday, Buffett told CNBC that bitcoin was "probably rat poison squared".

"It is an unbelievable company", Buffett explained.

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