Warren Buffett is one of the most closely followed investors of all time. Known as the Oracle of Omaha, Buffett's investment strategy has become a template for people looking to create and preserve wealth.

Buffett spent decades studying well-capitalized businesses that generate strong cash flow and use excess profits to reward shareholders. These are qualities that are not typically associated with high-growth technology businesses that burn money. Hence, Buffett avoided the sector for quite some time.

But in 2016, Buffett shocked Wall Street after he took a sizable position in (NASDAQ: AAPL). What was initially considered a head-scratcher has ballooned into his largest position, currently representing just over 50% of Berkshire Hathaway's investment portfolio. Although he has been a repeat buyer of the stock, the real reason for Apple's top-ranking is its price appreciation over the years.

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Source Fool.com