Apple so 'unbelievable' that Warren Buffett buys $75 million more shares

What Investors Are Watching For In This Year's Berkshire Hathaway Meeting

"If you look at Apple, I think it earns nearly twice as much as the second most profitable company in the United States", Buffett told CNBC.

The Apple stake of Berkshire now roughly deals around $241.7 million shares and has an estimated value of market is almost $43 billion, based on Thursday's closing price of $176.89. Berkshire Hathaway was buying shares in Q1 despite speculation that the iPhone X was performing poorly and Apple had dwindled down production.

Billionaire investor Warren Buffett thinks Apple (AAPL) stock is a screaming buy and has put his money where his mouth is.

Warren Buffett tells CNBC, in response to a question about whether Berkshire awns no more IBM: "The answer is most certain, yes".

Apple sold 52.2 million iPhones in the quarter, missing the consensus view of 53 million units. In that report will be Berkshire's ten largest holdings, so investors will get a good sense of how the company's investment strategy might be shifting.

Shares of Apple are up 3.8% since the beginning of 2018.

"Gyrations of that magnitude in reported net income will swamp the truly important numbers that describe our operating performance", Buffett said in his annual letter to shareholders released in February.

Operating earnings per share are expected to have surged 41 percent from the same period a year earlier, according to the average estimate of four analysts surveyed by Bloomberg. The Omaha, Nebraska-based giant now holds roughly 240 million Apple shares. Shares of Apple were up about 2.4%, or $4.25, contributing about 29 points to the Dow, with a $1 move in any one of the blue-chip gauge's 30 components equating to a 6.89-point swing. In 2011, Berkshire Hathaway owned 64 million shares of IBM's stock.

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