Warren Buffet Will Continue To Invest In Apple Stocks

Warren Buffett: Can't Operate His iPhone, Calls Bitcoin 'Rat Poison'
Buffett's magic touch sends Apple stock to its highest value in history
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09 May, 2018

The gap between Apple and other US companies in terms of market cap is equally impressive, with the iPhone-maker now worth over $120 billion more than its nearest tech rivals Amazon ($773B), Microsoft ($732B) and Alphabet ($719B), which are the second, third and fourth in market cap valuations, respectively.

He also responded to a question from the audience about bitcoin by saying that it and other crytpocurrencies "will come to bad endings". Buffett suggested over the weekend that he would buy more shares at the right price. "I'd love to own 100 per cent of it". Alluding to the artificial scarcity of cryptocurrencies, he said, "You can only mine so many [bitcoin], but so what?" If you buy a bond that's going to pay you 4% a year, you're not going to get any surprises, it's going to pay you 4% a year.

And in case you think he's kidding, he added in another tweet, "I am super super serious". And we really like their management, their way of thinking and their way of acting, "he said with a smile".

He says he hopes more daily newspapers can find a way to be economically viable because they are so important to society. I could whisper something on this program about a non-productive asset.

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Berkshire Hathaway owns roughly 10 percent of Wells Fargo's stock, and Buffett said Saturday that he has no plans to sell it.

The endorsement was well received and Apple CEO Tim Cook responded to the endorsement and appreciation in kind in a statement where he said, "On a personal level, I've always greatly admired Warren and have always been grateful for his insight and advice". You're dependent on the mob growing, so people do get angry.

Buffett: "The nice thing about buying Apple is that I don't care whether anyone mentions Apple again". Interestingly enough, some of the more vocal detractors of Bitcoin include some of the richest men in the world. When I buy Apple, I know that Apple is going to repurchase shares. "We're betting on the success of Apple products like the iPhone, and I see characteristics in that that make me think it's extraordinary", Buffett said. "There's no reason at all for me to encourage people to buy Apple".


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