Warren Buffett is arguably the greatest capital allocator ever. His track record at the helm of Berkshire Hathaway proves this: The conglomerate's shares have increased by 40,000% in the last 40 years.

Scouring Berkshire's equities portfolio for potential investments might be a smart idea for the average investor. By doing so, you'll quickly realize that about 49% of the massive $365 billion portfolio is invested in just one stock: Apple (NASDAQ: AAPL).

It's worth looking at some of the reasons Buffett decided to buy this FAANG stock in the first place. Then, by considering the situation today, investors can decide if Apple still makes for a smart investment.

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Source Fool.com