Apple iPhone 7 and 7s smartphones are displayed during an event in San Francisco, California, U.S., on Wednesday, Sept. 7, 2016. Apple unveiled new iPhone models featuring a water-resistant design, upgraded camera system and faster processor, betting that after six annual iterations it can still make improvements enticing enough to lure buyers to their next upgrade. Photographer: David Paul Morris/Bloomberg

The sage of Omaha shakes off tech aversion with deep bite into Apple

Warren Buffett has lamented his failure in recent years to find an “elephant-sized acquisition.” But, his Berkshire Hathaway has amassed a $79bn stake in Apple since early 2016.

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20 Feb 2020, 1:33 pm

Apple has recently been voted no. 1 by Market Insider on a list of stocks that millennials invest in. They also have faith in Amazon, Tesla, Facebook, Microsoft and no.6 on the list is Berkshire Hathaway. The tech savvy millennials may be voting with their hearts and may be more susceptible to be influenced by what is hip and great at the moment, but their passion for anything that the maker of iPhones, iPads and Mac releases, appears to be shared with none other than Warren Buffett, who is arguably the most admired and prolific investor in corporate America. Last year, the sage of Omaha lamented the fact that it has been three years since he bagged an elephant. But the Wall Street Journal reports that Buffett who once said that he had not invested in tech companies for years, because "he didn't understand them" has tuned into the millennials favourite stock and taken a big bite into Apple stocks, and has found his elephant. Apple is in the Biznews Global Portfolio. – Linda van Tilburg