Why Warren Buffett Loves Apple Stock

Warren Buffett: Can't Operate His iPhone, Calls Bitcoin 'Rat Poison'

Buffett is echoing the words of his business partner Charles Munger, who in 2014 also compared Bitcoin to rat poison. With productive assets you may pay too much but I bought a farm in the 1980s and every year I see how much it produces.

"Apple's an unbelievable company, and the multiple's not enormous, the top tech companies do have a very strong profit position right now but Apple has most of all". And the multiple's not huge.

According to reports, Apple is now worth over $120 billion more than its tech rivals such as Amazon at $773 billion, Microsoft with $732 billion, and Alphabet, the parent company of Google, which stands at $719 billion market cap valuation.

Warren Buffett: It's the consumer behavior with the product-what they do with it, how it becomes part of their lives, all that sort of thing-that I observe and primarily reason.

"Anytime you buy a nonproductive asset, you are counting on somebody else later on to buy a nonproductive asset because they think they can sell it to somebody for more money", Buffet lectured.

Buffett: "Well, they probably think that lots of people are going to get excited about cryptocurrencies, or maybe they already are, but they think there's money to be made trading it".

The second-generation iPhone X would feature an even bigger screen, yet it may have a cheaper price point at just US$550 vs. the US$999 iPhone X.




WB: A fellow sent me an [iPhone X] the other day, but I'm not using it yet [laughter]. And he wrote me this very nice letter, and explained what to do with it, that it wouldn't bite me or do anything like that.

Apple rose almost two percent more on Monday, bringing the company's value to more than $940 billion.

A few billionaire buddies were asked for their opinions on bitcoin.

Berkshire Vice Chairman Charlie Munger was more blunt, as he often is: "It was clearly an error".

Apple's stock price was also helped by the firm's better-than-expected results for the March quarter.

"And you get that and it will feed off itself for a while, and sometimes for a long while, and sometimes to extraordinary numbers, but they come to bad endings, and cryptocurrencies will come to bad endings", Buffett said.

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