With a total stake of some $133 billion, Apple (NASDAQ: AAPL) makes up some 40% of Warren Buffett's stock portfolio. Thus, how the iPhone fares from year to year matters to Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) shareholders as much as it does to Apple's. Big tech earnings have had a rough go of it for the third quarter of calendar year 2022, but Apple is doing just fine. It reported solid results in spite of mounting worry that iPhone and other consumer electronic sales were going to slide, but that didn't happen.
Apple proved once again that the typically tech-averse Buffett made the right big tech stock bet.
Buffett and company hate flashy and trendy investments, which often steers him clear of tech stocks in general. But Apple is a giant exception to the nonagenarian's rule. Apple is tech, but it has also built an incredible empire that keeps climbing at a slower-but-steady pace -- exactly the type of investment Berkshire Hathaway prefers.
For further details see:
Apple's Steady Results Prove Why It's the Ultimate Warren Buffett Stock