Buffett says iPhone may be the greatest product in history: it’s far undervalued

News on May 5, at Buffett’s 2024 shareholder meeting, Warren Buffett, chairman of Berkshire Hathaway, gave an example when talking about investing in Apple: You may be able to afford a second iPhone , but you may not necessarily be able to afford a second car. The second car is 20 times more expensive than the second mobile phone.

Although Buffett does not know how the iPhone works, his insights into consumer behavior convinced him that the iPhone is a very great product, perhaps even the greatest product ever, and its value is far greater. Far underrated.

At the same time, Buffett also praised Cook for his excellent work at the helm of the company and for being the "best partner" after Steve Jobs.

Buffett mentioned that Apple will most likely still be the largest single stock held by Berkshire by the end of 2024.

He emphasized: "We will still hold the stocks of Apple, Coca-Cola and American Express for a long time, and this move has achieved some success in the past."

It is reported that Buffett Berkshire Hathaway has purchased a large number of Apple shares since 2016. Buffett has made no secret of his "love" for Apple and has publicly stated that Apple's users are extremely sticky.

As of the end of last year, Berkshire held about 6% of Apple's shares, more than any other public company's holdings in Apple.

Buffett said in 2022 that the cost of Berkshire’s Apple shares was only US$31 billion, but since the beginning of 2016, Berkshire’s investment return in Apple has increased by nearly 620%. The value of the Apple shares purchased at that time exceeded US$174 billion by the end of last year, accounting for approximately 40% of Berkshire's total asset value.

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