As Apple stock rose over 5% on strong earnings report on Friday, the value of Berkshire Hathaway’s holdings in Apple increased $9.8 billion.
Apple posted nearly $124 billion in sales and strong sales growth in every product line except for the iPad.
Investors keyed in on CEO Tim Cook’s remarks that supply chain headaches are improving.
Berkshire Hathaway started accumulating Apple stock in 2016, CNBC recounts.
Berkshire now owns 887,136,000 shares of Apple. Apple now makes up over 40% of Berkshire Hathaway’s portfolio.
Apple issues regular dividends, which Buffett has said is attractive under his investing philosophy.
“I don’t think of Apple as a stock. I think of it as our third business,” Buffett told CNBC in 2020, calling it “probably the best business I know in the world.”