Berkshire Hathaway chairman Warren Buffet says Apple outperforms every business he owns.
Berkshire reported $997 billion in assets at the end of the first quarter, of which $328.16 billion were investments in equity securities.
Apple accounts for 46% of its equity portfolio with holdings having jumped to $151 billion as of March 2023 from the $1 billion it held in May 2016.
The billionaire and investment icon now holds about a 5.8% stake in Apple, which was worth more than $150 billion as of last Friday.
During his company's annual shareholder meeting on Saturday, Buffett said Apple just happens to be a better business than the one his company owns.
The billionaire and leading investment icon has long been a supporter of Apple CEO Tim Cook and his company's products, including the iPhone.
Despite saying that he does not understand the iPhone, but he understands the behavior of users who are very loyal to the mobile device.
He added that the iPhone's status among consumers made it an exceptional product, making him very happy to have a stake in the stock.
