Warren Buffett told CNBC that Berkshire Hathaway's 'third largest business,' after its insurance and railroad interests, is its stake in Apple.
Over the past 12 months, Apple shares are up about 80%.
"It's probably the best business I know in the world. And that is a bigger commitment that we have in any business except insurance and the railroad, Buffett said.Buffett said he wished he bought Apple long before he did. "I should have appreciated it earlier."that Berkshire Hathaway bought 75 million more Apple shares, adding to its already huge stake at the time of 165.3 million shares.
Buffett, a self-admitted Luddite, resisted using an iPhone in favor of his flip phone even as Berkshire bought Apple stock. But on Monday, he told CNBC that he finally gave in and switched to an iPhone.
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