Warren Buffett has been one of Apple's greatest investor cheerleaders. However, the 88-year-old super investor says he should not add to his stock unless prices go down.
"If it were cheaper, we would buy it. We don't buy it here," Buffett told CNBC 's "Squawk Box". Apple: I don't see myself selling ̵
Apple is currently trading at $ 172.97. It is down from Apple's $ 232.07 height back in early October, after Apple reached its valued $ 1 billion value. However, it is significantly higher than the low of $ 142 in stock in January, after Tim Cook announced disappointing iPhone sales.
Buffet's investment company Berkshire Hathaway is the second largest owner of Apple shares. The total bet is worth around $ 52 billion. Recently, it sold a small portion of its Apple stock, which led to a small dive in Apple's stock prices. Buffett was apparently not the decision maker behind that sale
No rocket, but headed in the right direction
In many ways, Warren Buffett has been the perfect Apple investor. Unlike an activist investor like Carl Icahn, Buffett has not tried to influence Apple's direction. He also talked about taking a long-term interest in Apple, rather than focusing on sales from quarter to next. That kind of emotion is probably music for Tim Cook's ears.
Buffet's comments are interesting, but since it suggests he doesn't expect the Apple stock to fire in the near future. After all, while the warehouse can surely be priced lower, if it returns at its price of $ 200, $ 172.97 will be a bargain.
As such, Buffetts image of Apple, circa 2019, appears to be a stable company, but not one that will rake up anytime soon.