Warren Buffett, Oracle of Omaha, has bought 133 million Apple shares in 2017. Here’s why!

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Updated: February 27, 2017 5:25:33 PM

Warren Buffett also known as Oracle as Omaha on Monday told CNBC TV18 that he has bought 133 million Apple shares in 2017 because he likes the business.

?Tim Cook has been extremely intelligent about using the capital,? he added.

Warren Buffett also known as Oracle as Omaha on Monday told CNBC TV18 that he has bought 133 million Apple shares in 2017 because he likes the business. Speaking with the news channel he further said, “Apple has a lot of technology but it is a consumer company”. “Tim Cook has been extremely intelligent about using the capital,” he added. Stating that Apple might pip Berkshire to a trillion dollar valuation, Buffett said continuity of the iPhone among consumers is ‘huge’. “I see kids sticking to the iPhone and upgrading to newer models”.

When asked about markets, Buffett said, “I don’t know anyone who’s been able to time markets over the years. You never know what markets will do tomorrow, you generally know what markets will do 10-20 years from now”. “We are not in a bubble territory now,” he quipped.

According to Bloomberg, Warren Buffett’s Berkshire Hathaway Inc. has sharply increased bets on airlines and iPhone maker Apple Inc. in the fourth quarter, while taking a stake in seed company Monsanto Co. Berkshire’s investments in American Airlines Group Inc., Delta Air Lines Inc. and United Continental Holdings Inc. climbed to more than $2 billion each, according to a regulatory filing from Buffett’s Omaha, Nebraska-based company. It also disclosed a stake in Southwest Airlines Co. valued at about $2.2 billion as of Dec. 31.

The billionaire investor recently used his annual letter to laud immigrants and their contribution to the growth of the US economy amid President Donald Trump’s anti-immigrant stance. “Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers,” he wrote in the letter to shareholders of his massive Berkshire Hathaway conglomerate.

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Meanwhile, when asked about US, the world’s third wealthiest person said, “American dynamism has been my theme for decades. My stock purchases have nothing to do with the Fed or the US elections”. Talking about the US market rally he said, “Staying out of the game may be a terrible mistake”.

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