Warren Buffett, one of the most influential American investors and businessmen, has been full of praise for Apple. In his first television interview since the pandemic, the president of Berkshire Hathaway has no doubts that investing in the Cupertino company is a resounding success, a "wonderful business" for both users and investors.
Speaking to CNBC, Buffett praised how well Tim Cook has run Apple during his tenure as CEO: "He's one of the classiest CEOs and he understands the business." And he goes further: "He has managed that company in an extraordinary way."
Cook's management is not Apple's only trump card. According to the investor, the success of the technology also lies in the loyalty of users: "If you are an Apple user and someone offers you $10,000, but the only condition is that they take away your iPhone and you will never be able to buy another, don't you will accept”.
The businessman assures that this does not happen with any product. “If they tell you that if you buy another Ford car, they will give you 10,000 for not doing it, you will take the 10,000 dollars and you will buy a Chevy,” he explained in his interview on CNBC.
In his opinion, this shows the value that users place on the iPhone: “It is an incredibly valuable utility. That doesn't mean kids can't misuse it, and Tim Cook worries about that. Everything can be misused. But I think Tim Cook cares about that."
The businessman was also asked about his investment last year in chipmaker Taiwan Semiconductor. Buffett backed out of that operation after reassessing the geopolitical risk that China could intervene in that country and disrupt the company's operations.
However, the American remains one of Apple's biggest backers, despite the fact that the company relies heavily on Chinese suppliers.
Buffett has always been a crush on Apple. Over the years, he has been increasing his stake in the company: "We can't build a business like that, so we own a lot of it. And our ownership increases over time."
Loyalty seems to be guaranteed. Currently, Berkshire Hathaway, the company he chairs, owns 5.8% of Apple's shares.
