Apple's Stock Price Reaches All-Time High as Warren Buffett Continues to Praise Company

Apple's stock price has established a new all-time high, as shares exchanged hands for slightly above $187 in intraday trading today.


Apple's stock price has been steadily increasing for over a week, driven by the company's successful earnings report on May 1 and Berkshire Hathaway buying 75 million additional Apple shares in the first three months of 2018. North American stock markets have also been rallying in general since Friday.

Berkshire Hathaway now holds 240.3 million shares in Apple, worth over $44 billion at the stock's current price, and the holding company's billionaire CEO Warren Buffett continues to praise the company with bullish comments.

"I clearly like Apple… we bought about five percent of the company. I'd love to own 100 percent of it," he quipped, in an interview with CNBC. "We like very much the economics of their activities, and we like very much the management and the way they think, and the way they act," he added.


Buffett was only joking about his intention of owning 100 percent of Apple shares, which wouldn't be possible due to financial and regulatory considerations, but the comment is a testament to his confidence in the iPhone maker.

Buffett wasn't the only billionaire to offer praise, as Microsoft co-founder Bill Gates said Apple is an "amazing company" in an interview with CNBC, at Berkshire Hathaway's annual meeting. "The top tech companies do have a very strong profit position right now but Apple has the most of all."

Apple now has a market cap fluctuating around the $915 billion mark, as it inches closer to becoming the world's only trillion dollar publicly traded company. Amazon is second closest to that milestone, with a market cap around the $775 billion mark, followed by Microsoft and Google's parent company Alphabet.

In a research note following Apple's earnings results last week, Apple-focused analyst Brian White said Apple remains "one of the most underappreciated stocks in the world with a valuation that remains depressed."

"After the Apple supply chain came crashing down over the past couple of weeks and the market quickly cast an ominous dark cloud over Apple's stock, the company delivered strong second quarter results last night and a solid outlook," wrote White, in a note obtained by MacRumors. "Moreover, Apple minted a new $100 billion stock repurchase program and hiked its dividend by 16 percent."

Looking ahead, Apple's guidance of between $51.5 billion and $53.5 billion in revenue in the third quarter of its 2018 fiscal year would be an all-time high for that period. Its current record for the quarter is $49.6 billion in 2015.

Tag: AAPL

Top Rated Comments

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27 months ago

Been listening to CNBC this morning ... Buffett talked about making his AAPL buy decisions based-upon watching his Grandkids with their Apple products.

I seriously doubt Buffett knows just how fragile AAPL really is !

Knowledge is Power, & in this case, Buffett appears to have very little !

He does, however, a blind following who would have NO problems following him over a cliff !

You're completely wrong here. He's very aware of where Apple is at. Far more so than you. You're kidding yourself if you think he's been invested in Apple for years purely because of how his grand kids use Apple products. He's researched them thoroughly and understands their earnings and position in the market better than most. You don't get to his level simply by investing in things you see others investing in without further understanding.
Score: 29 Votes (Like | Disagree)
Avatar
27 months ago
Tim (and us shareholders) laughing at haters all the way to the bank.
Score: 12 Votes (Like | Disagree)
Avatar
27 months ago

Been listening to CNBC this morning ... Buffett talked about making his AAPL buy decisions based-upon watching his Grandkids with their Apple products.

I seriously doubt Buffett knows just how fragile AAPL really is !

Knowledge is Power, & in this case, Buffett appears to have very little !

He does, however, a blind following who would have NO problems following him over a cliff !

Tell me, how fragile is AAPL? Really, share your insights that even Buffett doesn't seem to have. I'm curious.
Score: 11 Votes (Like | Disagree)
Avatar
27 months ago

Been listening to CNBC this morning ... Buffett talked about making his AAPL buy decisions based-upon watching his Grandkids with their Apple products.

I seriously doubt Buffett knows just how fragile AAPL really is !

Knowledge is Power, & in this case, Buffett appears to have very little !

He does, however, a blind following who would have NO problems following him over a cliff !

I've been hearing this illogical and baseless nonsense for nearly 20 years, over which time my investment in Apple has risen abut 12,500%.
Score: 10 Votes (Like | Disagree)
Avatar
27 months ago
The stock market is a weird thing. The comments of one man, albeit a very wealthy man, can increase the stock price of one he's heavily invested in.
Score: 9 Votes (Like | Disagree)
Avatar
27 months ago
Warren obviously has not used iOS 11 or High Sierra...
Score: 9 Votes (Like | Disagree)

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