Warren Buffett and his investment firm recently spoke about Apple as ‘an incredibly valuable utility in a CNBC interview.
Berkshire Hathaway recently sold 85% of its TSMC stock, stating international trade tension with China as the reason. Buffett, however, said that the firm will stick with Apple stock as it did not have the same issues. He then mentioned that Apple is a ‘wonderful business’ and that its CEO Tim Cook ‘is the classiest CEO’.
The interview went on with Buffett saying how Cook understands the business and managed the company in an extraordinary way. In hindsight, Buffett said that iPhone users will not sell their phone for $10,000, then compared the same with a Ford automobile.
When asked if the investment firm will ever sell Apple stock, Buffett said that at one point when they considered it from a tax standpoint, but then admitted that it was a ‘dumb sale’.
