Key Points
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Warren Buffett reaffirmed his confidence in Apple during a CNBC interview on July 15, calling it one of his favorite businesses.
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Apple’s current stock price reached approximately $328, up 4% on Wednesday and reflecting a 55% increase over the past year.
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John Ternus will take over as CEO on September 1, replacing Tim Cook, who will transition to executive chairman.
Warren Buffett’s Berkshire Hathaway owns over $70 billion in Apple stock, representing about 22% of its $263 billion equity portfolio. Despite the upcoming leadership change at Apple, Buffett remains unfazed, highlighting the company’s robust growth with a 17% revenue increase to $111.2 billion in its fiscal second quarter ending March 28, 2026.
As Apple gears up for the leadership transition, the company’s record iPhone revenue surged 22% to $57 billion, supported by strong demand for the iPhone 17. The stock trades at around 40 times earnings, a significant premium compared to the broader market, but Buffett’s confidence suggests a continuing belief in Apple’s long-term potential.
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