Berkshire Hathaway began buying Apple shares in 2016 and by mid-2018, ownership of the company had accumulated to 5% of Apple, a stake that cost $36 billion. In early 2022, Warren Buffett’s investment in Apple is worth $162 billion.
“Without doubt one of the strongest investments Berkshire has made in the last decade,” says James Shanahan, Berkshire analyst at Edward Jones.
Other than the massive rise in Apple’s stock, it was also a profitable bet for Buffett due to its massive and regular dividend, averaging $775 million annually.
Buffett’s aversion to tech stocks has been well documented, but the “Godfather of Omaha” has warmed up the sector in the past decade with the help of his vice-investors Todd Combs and Ted Wechsler. Berkshire’s stake in Apple now accounts for more than 40% of its stock portfolio. The conglomerate is Apple’s largest shareholder, apart from providers of exchange-traded funds and indexes.
The billionaire investor has called Apple “the third largest company” in his portfolio after insurance and railroads, and Buffett has previously said that the iPhone is a consistent product that keeps people connected to Apple.
In February 2020, Buffett said in an interview with CNBC, “Probably the best job I know in the world. I don’t think of Apple as a stock. I think it’s our third act.”
The most popular US investor has made some profits in real terms over the years. Since 2018, Berkshire has slightly reduced its stake in Apple with the group receiving $11 billion in 2020. However, due to Apple’s buyback programs, which reduced the number of its outstanding shares, Berkshire’s total stake in The tech company is already bigger.
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