The consumer tech giant Apple is the second-most commonly held stock by Robinhood users, based on the site. It also happens to be the largest position in our legendary Buffet's company, Berkshire's portfolio by far, making up more than 42% of the company's roughly $363 billion equities portfolio.
Berkshire in the second quarter of 2022 purchased another 3.9 million shares of Apple and at the end of the quarter owned 894.8 million shares, which are currently valued at close to $150 billion. That gives Berkshire a nearly 5.6% stake in the company.
As per the news, Buffett likes Apple is because of its extraordinary brand power, which gives it the ability to pass higher costs associated with making products onto its customer base without too much pushback. This makes Apple unique because it's a growth tech stock that can also hedge inflation to a certain extent. Apple's stock is only down about 4.7% this year, which compares favorably to the Nasdaq Composite, which is down nearly 19.8% this year. The company also continues to buy back a ton of stock, which we know Buffett and Berkshire love.
So this is definitely a good buy for long terms :)
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