Warren Buffett Owns 5 Percent of Apple. He'd Like to Own More

Posted May 07, 2018

A day after multinational conglomerate Berkshire Hathaway acquired another 75 million shares of Apple, its CEO Warren Buffett said the iPhone maker should spend more cash buying its own shares.

Berkshire owns confectionary See's Candy which it bought in 1972 for $25 million.

Property & casualty and life & health reinsurance at Berkshire Hathaway Reinsurance Group both made a good start to the year, with over $2 billion of premiums earned in P&C reinsurance, up from $1.74 billion in the prior year, and $1.234 billion earned in life & health reinsurance, up from $1.085 billion in the prior year.

With Berkshire's 2018 annual meeting in the books, users can revisit the highlights in CNBC's Warren Buffett Archive, which houses searchable video from 25 full annual meetings, going back to 1994, synchronized to 2600 pages of transcripts. He also is of the opinion that all big banks have had troubles of one sort or the other and what happened at Wells Fargo could have happened anywhere.

He also said he would be happy to see Apple shares go down in price if it would spur repurchases.

"They are not going to find $50 billion or $100 billion acquisitions that they can make at remotely a sensible price", ReCode quoted Buffett as saying at the company's annual meeting held at Omaha city in the USA state of Nebraska.

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For many in the region, giving up that protection is an unsettling prospect, even if peace comes to the peninsula. Moon's office said news that the White House was considering drawing down troops was "not true at all".

The shares closed up 3.9 percent at US$183.83 on Friday.

Buffett, 87, and Vice Chairman Vice Chairman Charlie Munger, 94, are answering five hours of questions from shareholders, journalists and analysts at the annual meeting.

Buffett said he does not want "much underwriting exposure to cybersecurity threats for Berkshire's insurance businesses".

Buffett said stock prices are elevated but not in a bubble. Pre-tax underwriting gains almost quadrupled, as it sold more policies despite having raised rates, while the rate of policyholder losses fell.

Pretax profit at industrial businesses such as Precision Castparts rose 32 percent, while lower taxes helped boost profit at the Berkshire Hathaway Energy unit by 22 percent.