I am quoted in a Yahoo Finance article: “Berkshire Hathaway has made about $358 million on Apple“.
Back in November, Buffett was asked at an event for undergraduate and graduate students in Omaha why he doesn’t invest in technology companies.
The “Oracle of Omaha” hinted that his investment deputies— Ted Weschler and Todd Combs— are responsible for buying Apple, according to notes posted by Dr. David Kass, a professor of finance at the University of Maryland’s Robert H. Smith School of Business:
“Ted (Weschler) and Todd (Combs) each have about $9 billion to invest. One or more invested in Apple. With Apple, people get hooked on things that they like. [Buffett] has a competitive edge within his circle of competence (which does not include tech companies). His circle grows wider over time but outside of his circle tech people know better than he does. [Buffett] mentioned that he did not invest in Microsoft even though it had no cost of goods sold and was earning a ‘royalty on the world’ since the world needed its operating system.”