Warren Buffett Wants More Apple Shares and Praises the Company's Buybacks

Musk teases Buffett with candy promises

It came two days after Buffett revealed having bought 75 million additional Apple shares, and four days after Apple said it may buy back $100 billion (roughly Rs. 6.7 lakh crores) of stock. "I think anybody that tells you now they think they know in some actuarial way either what (the) general experience is like in the future, or what the worst case can be, is kidding themselves", he added.

A day after acquiring the shares, Buffett said the iPhone maker should spend more cash buying its own shares.

"We've done amazingly nicely with trade in China, " Buffett said of the United States at Berkshire Hathaway's annual shareholders meeting Saturday in Omaha, Nebraska".

Speaking at Berkshire's annual shareholder meeting, Buffett credited Apple with developing "extremely sticky" products to which consumers become attached, Reuters reports.

Last week, Apple reported its profit in the first three months of the year stood at $13.8 billion, a 25 percent increase from the corresponding period 12 months earlier.

More news: Why this week at Quail Hollow matters for Tiger Woods

The figure make the holding company Apple's third-largest shareholder, behind Vanguard Group and BlackRock.

Furthermore, Buffett said that he would love to see Apple go down in price so Berkshire Hathaway could further increase its ownership.

In a Twitter rant Saturday, billionaire tech innovator and investor Elon Musk said he is "super super serious" about starting a candy company.

However, the "Oracle of Omaha" told investors investing Berkshire's cash stockpile-which now amounts to around $108 billion-was a challenge.

Related News:

  • Miami Cinco de Mayo Survival Guide

    Miami Cinco de Mayo Survival Guide

    Law enforcement agencies in Southern California will be out in force Saturday looking for impaired drivers on Cinco de Mayo . Cinco de Mayo has evolved over the years into a celebration of Mexican culture, especially Mexican cuisine and music.
    Iowa introduces America's strictest 'heartbeat' abortion law

    Iowa introduces America's strictest 'heartbeat' abortion law

    It would also ban all persons from knowingly acquiring, providing, transferring, or using fetal remains in Iowa. Reynolds said. "For me, my faith leads me to protect every Iowan, no matter how small".
    Theresa May postpones customs decision after ministers disagree

    Theresa May postpones customs decision after ministers disagree

    May has insisted that no British prime minister could accept such a scenario. If they don't have confidence in Brexit we don't have confidence in them.
  • Terre Haute police officer fatally shot

    Terre Haute police officer fatally shot

    No information was immediately available about the male officer who was killed at the Garden Quarter apartment complex. The suspect was injured and medics on the scene were called to treat the man, Watts said.
    Tesla's Musk defends comments made during conference call

    Tesla's Musk defends comments made during conference call

    Speaking to CNBC about the incident on Thursday, Sacconaghi suggested that Musk's behavior was a "worrisome sign". Musk interrupted him to say that boring questions are "not cool" and called for the next question.
    Kim Jong-un meets China foreign minister

    Kim Jong-un meets China foreign minister

    Trump isn't the only official who's suggested it's time to rethink the USA presence in South Korea. "Stay tuned!" he tweeted . Kim Hak Song , an ethnic Korean who was born in China, was detained in May 2017 and also accused of "hostile acts".
  • If you use Twitter, you should change your password right away

    If you use Twitter, you should change your password right away

    While Twitter says that it sees no signs of breach or misuse, it's recommending that users "consider changing" their passwords ... But, the company does ask that you " consider changing your password on all services where you've used [the] password ".
    Amber Rudd resigns as Home Secretary

    Amber Rudd resigns as Home Secretary

    It came hours after her former deputy, Brandon Lewis, confirmed that Rudd had set an "ambition" for the government to deport more illegal immigrants.
    Vatican treasurer to stand trial for sex offences — Cardinal George Pell

    Vatican treasurer to stand trial for sex offences — Cardinal George Pell

    Richter said the allegations were an attempt to destroy the cardinal's reputation. Cases so weak a jury could not possibly convict a defendant had to be thrown out.
  • Asian Cup: Qatar drawn with Saudi Arabia, Lebanon and DPR Korea

    Asian Cup: Qatar drawn with Saudi Arabia, Lebanon and DPR Korea

    Held every four years, the Asian Cup will start on January 5 with matches to be held in Dubai , Abu Dhabi, Al Ain and Sharjah. Meanwhile, Group C features Asian giants Korea and China together, while Group D has pitted Iran and Iraq together.
    China-Japan call for North Korea's denuclearisation through dialogue

    China-Japan call for North Korea's denuclearisation through dialogue

    At the same meeting last week, Kim also vowed to begin shutting down North Korea's nuclear test site in Punggye-ri this month. President Donald Trump has not asked the Pentagon for options to reduce U.S. forces based in South Korea, U.S.
    Top trio at Flipkart to resign post Walmart deal?

    Top trio at Flipkart to resign post Walmart deal?

    According to a Bloomberg report , Flipkart Online Services Pvt has approved 75 per cent stake sale to Walmart for $15 billion. Google's parent company Alphabet Inc.is said to be participating in the deal with a $3 billion investment.


Most liked

FBI Probing Possible Banking Fraud by Trump Lawyer Michael Cohen
GIULIANI: But here's the - but here's the - well, yes, I mean that - that's one of the possibilities and one of the rumors. Senior White House adviser Kellyanne Conway said she was not aware of any other possible payoffs.

Instagram launches payment feature
Now for users those who have this feature, they can add their debit/credit cards and set a profile PIN for additional security. TechCrunch reported that several users in the U.S. have already received the feature to shop and make payments in Instagram .

Israeli troops fire shots, tear gas at Gaza protesters, 1100 Palestinians hurt
No Israelis have been hurt in the weeks of protests and the military has faced global criticism for its use of live ammunition. Israel said it's defending its sovereign border, including nearby communities, and that soldiers only target instigators.

United States jobs growth slowed in April, unemployment rate dropped to 3.9%
A decreasing unemployment rate would seem to be good news! Hospitals added 8,000 jobs last month, down from 9,900 jobs in March. Economists interpreted symmetric to mean policymakers would not be too concerned with inflation overshooting the target .

Adidas backs Kanye West after slavery comments
Then in the most recent clip, he blasted Kanye for supporting Donald Trump and using the term "free thought" to justify it. In honor of Mental Health Awareness Month, I believe it's the flawless time to address Kanye West's recent behavior.

Arsenal's Alex Iwobi 'sad' at Arsene Wenger's imminent departure
Premier League rule L.19 states that "In every League Match each participating Club shall field a full strength team". City also moved to 30 wins for the season, matching the record number of Chelsea from last season.

ELECTION 2018: Drama as Torie's grip across the Portsmouth area weakens
The Lib Dems are hopeful of preserving maintain of Sutton, their final London council, and hope to grab Kingston from the Tories. Cllr Sean Anstee, the Conservative Group leader told Place North West: "We were clearly an obvious target for the Labour party".

Merkel: We should broaden negotiating framework for Iran nuclear deal
Obama "enshrined the deal as global law at the U.N." two months prior eliminating the need for a congressional vote. The country has always denied it sought a nuclear weapon, insisting its atomic programme was for civilian purposes.

Chinese state media cautious as US delegation flies in for trade talks
Liu, a Harvard-trained economist, went to Washington in late February for trade talks, but achieved no breakthrough. The immediate threat of tariffs obscures an escalating contest between the two countries over technology.

Netanyahu accuses Palestinian president of antisemitism
He also stressed that the Holocaust was the result of thousands of years of persecution and that it did not occur in a vacuum. Abbas's office later acknowledged that the reports on which his comments had been based had proved without foundation.

Rajasthan dust storm: 27 dead, over 100 injured
Besides these, at least 38 people have been injured across the state, and 36 of them are from Agra district. The Agra district of Uttar Pradesh was one of the worst hit with more than 30 people killed.

Some 30 Reported Injured in Lag Ba'omer Explosion in London
Volunteer ambulance service Hatzola said they assisted emergency services to treat "multiple patients" for burns. As soon as a torch was used to light the bonfire, there was an explosion which sent crowds running.

Tesla Loss Doubles In First Quarter But Results Beat Consensus
Tesla had $2.67 billion in cash on hand at the end of the first quarter, down from the $3.37 billion at the end of a year ago . Tesla shares were down almost 5% during after-hours trading, despite posting better-than-expected earnings results.

Minimum unit pricing for alcohol: Everything you need to know
Industry experts have warned the new rules will mean drinkers may cross the border in search of cheaper alcohol. Alcohol misuse costs Scotland £3.6 billion each year - that's £900 for every adult in the country.

Malaysia convicts first person under controversial legislation
The law applies to offenders outside Malaysia and includes foreigners, if the country or any of its citizens are affected. Salah reportedly said he didn't have money to pay the fine and will have to serve another month in jail instead.