OMAHA, Neb. (AP) — Warren Buffett’s company bought 75 million more Apple shares in the first quarter, giving it more than 240 million shares of the iPhone maker.
Buffett told CNBC about the latest Apple stock purchases Friday as tens of thousands of shareholders begin to arrive at Berkshire Hathaway’s annual meeting this weekend.
Berkshire has continued buying Apple shares even with the price rising 25 percent over the past 12 months. Shares hit an all-time high Friday.
At the end of 2017, Buffett’s company held 165.3 million Apple shares.
Most Read Business Stories
- New Seasons Ballard to close, Metropolitan Market taking over Mercer Island store in grocery merger
- Burien has been plagued by noise from Sea-Tac Airport. So residents sued the government -- and won.
- Explosion of U.S. tech jobs concentrated in just 5 metro areas, study finds
- Celadon bankruptcy leaves more than 3,000 truck drivers jobless during the holidays
- FAA engineers objected to Boeing's removal of some 787 lightning protection measures
Buffett has said he looks at Apple like a consumer products company with a strong competitive position, rather than as a tech company.
Besides investments, Berkshire owns more than 90 subsidiaries in a variety of industries, including insurance, utilities, railroads, and manufacturing.