Warren Buffett Thinks This Is Berkshire Hathaway's Best Business
At Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) recent annual meeting, CEO and billionaire investor Warren Buffett answered a question from a shareholder who was concerned with how big the company's Apple (NASDAQ: AAPL) investment had become. And it's not hard to see why the question was asked. With a market value of nearly $158 billion as of this writing, the Apple stock makes up roughly 47% of Berkshire's stock portfolio and is equal to 22% of the conglomerate's entire market cap.
Specifically, the shareholder was quoting another famous investor, Aswath Damodaran, who has said that he isn't comfortable with positions reaching 25%-35% of his portfolio.
Buffett pushed back a bit, defending Berkshire's high exposure to Apple stock. In fact, he went so far to say that Apple is the best business Berkshire owns.
Source Fool.com
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