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Blue-Chip Stocks That Warren Buffett Dumped (And Why)

Blue-Chip Stocks That Warren Buffett Dumped (And Why)

In February, Berkshire had said its Apple stake grew by about 23 percent since the end of September to roughly 165.3 million shares.

Yahoo Finance is the exclusive online host of the Berkshire Hathaway 2018 Annual Shareholders Meeting, coming Saturday, May 5th.

"If you look at Apple, I think it earns nearly twice as much as the second most profitable company in the United States", Buffett told CNBC.

Apple shares added 3.9 percent, to $183.83, as investors hoped to grab some of the Buffett investment magic.




Buffett has said he looks at Apple like a consumer products company with a strong competitive position, rather than as a tech company.

"For the second quarter running, the iPhone X remains the world's most popular smartphone model overall, due to a blend of good design, sophisticated camera, extensive apps, and widespread retail presence for the device", said Strategy Analytics senior analyst, Juha Winter.

Tens of thousands of investors are on hand at the CenturyLink Center to spend hours listening to Warren Buffett and Charlie Munger talk about business and life. But with the latest stake purchase, it has grown to a massive 240.3 million shares worth $42.5 billion. Buffett had earlier told that Berkshire's goal is to substantially increase earnings of its non-insurance business and for that, it was looking for big acquisitions. When it comes to investment, Warren Buffet is a name that nobody can forget and it is true that if his company brought such massive shares in Apple, it is evidence enough that the company is doing really well. Revenue from services surged 31 percent to a record $9.2 billion in the most recent quarter.

An Apple Music subscription costs $10 per month (unless they're on a family plan), and the number of paying users recently hit 40 million.

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