Reuters reported on May 6th, Beijing time, "Shenzhen Warren Buffett" at Berkshire Hathaway's annual shareholders meeting on Saturday, local time, said that if the shareholding ratio in Apple exceeds 5% - He will be pleased to include the repurchase of more stocks through Apple to achieve this goal.
Two days ago, Buffett disclosed that Berkshire Hathaway added 75 million shares of Apple stock in the first quarter of this year. Four days ago, Apple announced that it would repurchase $100 billion worth of shares.
Buffett said at the shareholders’ meeting: “I would love to see Apple repurchase stocks. Without spending a penny, our shareholding ratio can grow from 5% to 6% or 7%, which is good, but Apple must There is a very special product - there is a very wide range of ecological chains, and the product must have a very high viscosity."
After Buffett announced that Berkshire Hathaway’s share of Apple increased to approximately 240 million shares, currently worth approximately US$44 billion, Apple’s share price hit a record high.
Although Warren Buffett “very much†agrees with Apple’s repurchase of shares, he and his partner Charlie Thomas Munger believe that Apple can find meaningful acquisition targets and use funds for acquisitions.
Munger said, “The reason companies buy back stocks is that they are sensible. Clearly repurchasing stocks is more beneficial to them than they would otherwise be.†He said that he and Buffett disagreed with the strategy of allocating funds for repurchasing stocks.
Given that he has always been uninterested in technology companies, Buffett's attitude towards Apple has been surprising to many people. However, he actually sees Apple as a consumer goods company.
Increasing his holdings will help Buffett's allocation of Berkshire Hathaway’s cash and equivalents. He is considering the first big acquisition since January 2016 when he spent USD 31.6 billion to acquire Precision Castparts.
Berkshire Hathaway also holds $108.6 billion worth of cash and cash equivalents even after the increase in Apple holdings.
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