Warren Buffett Praises Tim Cook as Berkshire's Apple Investment Soars
Why Warren Buffett says he 'didn't have to do a damn thing' as Berkshire's $35 billion Apple bet skyrocketed to $185 billion under Tim Cook
The Economic TimesImage: The Economic Times
At Berkshire Hathaway’s shareholder meeting, Warren Buffett discussed the company's $35 billion investment in Apple, which has skyrocketed to approximately $185 billion under CEO Tim Cook. Buffett credited Cook's leadership for this remarkable growth and expressed confidence in Apple's future.
- 01Berkshire Hathaway invested $35 billion in Apple between 2016 and 2018.
- 02The investment has grown to around $185 billion before tax.
- 03Buffett emphasized the importance of Tim Cook's leadership in this success.
- 04Apple's market value increased from $350 billion to $4.1 trillion during Cook's tenure.
- 05Despite reducing its stake, Apple remains Berkshire's largest holding.
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During Berkshire Hathaway’s recent shareholder meeting in Omaha, Warren Buffett reflected on the company's substantial $35 billion investment in Apple, made between 2016 and 2018. He highlighted that this investment has surged to approximately $185 billion before tax, attributing much of this success to Tim Cook's leadership. Buffett noted that at the time of the investment, Cook was not widely recognized among investors, especially compared to his predecessor, Steve Jobs. Under Cook's tenure, Apple’s market value has skyrocketed from about $350 billion to $4.1 trillion. Buffett expressed confidence in Apple, stating that despite Berkshire reducing its stake in recent years, it remains the company's largest holding. He concluded by acknowledging Cook's contributions and suggested he deserves recognition from shareholders as he prepares to step down as CEO.
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