“Apple stock has become our third largest business”
Editor’s note: This article comes from Tencent Technology , author Silicon Valley Analysis Lion.
Warren Buffett, CEO and chairman of Berkshire Hathaway, known as the “share god”, said in an interview with the media that cryptocurrencies are basically of no value and will not produce anything .
Buffett released the annual shareholder letter two days ago, and in an interview, he also said, “I don’t have any cryptocurrency now, and I will never have it.”
For a long time, Buffett has been critical of Bitcoin, the world’s largest cryptocurrency. Prior to Berkshire Hathaway’s annual shareholder meeting in 2018, he had said that Bitcoin was “most likely the square of rat pills” and that the words he used to describe Bitcoin also included “mirage”, “not currency” And “Tulip” and so on.
Charlie Munger, Berkshire Hathaway’s deputy chairman, called bitcoin “poop” and said that “only a fool” would trade cryptocurrencies.
Last year, in order to change Buffett’s ideas, Sun Yuchen, the founder of cryptocurrency Tron and CEO of file sharing company BitTorrent, bid $ 4.75 million at the Buffett Charity Lunch Auction, and finally agreed with the billionaire who has a sceptical position on Bitcoin The investors had dinner together.
Buffett said: “Sun Yuchen and four friends came to me with perfect behavior. We spent three and a half hours eating dinner. The atmosphere was very friendly and the whole process was a very friendly exchange of ideas.” But Buffett added, Neither he nor Sun Yuchen changed their positions on Bitcoin.
At present, Berkshire Hathaway’s “third largest business” is its stake in Apple, second only to insurance and rail. Buffett said, “I don’t think of our Apple shares simply as stocks. I think this is our third business.”
According to Buffett ’s annual letter to Berkshire Hathaway shareholders on Saturday, Berkshire Hathaway currently holds a 5.7% stake in Apple. According to 2019A document submitted to the government on February 31 showed that as of the end of last year, Berkshire Hathaway held more than 245 million Apple shares worth nearly $ 72 billion.
In the past 12 months, Apple shares have risen by about 80%. “It’s probably the best business in the world I know, and it’s our most valued business beyond insurance and rail,” Buffett said. Berkshire Hathaway first bought Apple shares in May 2016. 10 million shares were bought at that time. In May 2018, Buffett stated in an interview that he really likes Apple stock so much that he wants to own it 100%.
In addition to Apple stock, Buffett also revealed on Monday that he finally replaced his flip phone and switched to an iPhone. Although Buffett has long been optimistic about Apple stock, he has never bought an iPhone, but has long used a Samsung flip phone.
In an interview, Buffett gave a very novel reason: He smiled and said that this shows that the iPhone market is not saturated. “If I bought everything, it’s over. The last person who bought it has already bought it.” < / p>
Buffett also mentioned at the time that Apple CEO Tim Cook sent him a Christmas card, saying that he would “sell me an iPhone” in 2018, but did not “get it.” Buffett also said: “In fact, he sends me these reminders almost every Christmas.” Today, Buffett confirmed that he finally switched to the iPhone.