In an interview with CNBC on Monday, chairman and chief executive of Berkshire Hathaway Inc., Warren Buffett revealed how many Apple shares his company purchased in 2017.
Claiming the U.S. stock market is not nearing “bubble territory,” Buffett said Berkshire has purchased 120 million shares from Apple in 2017, thus far. According to Buffett, “Apple strikes [him] as having quite a sticky product,” and he believes Apple chief executive Tim Cook is doing a “terrific job.”
As reported in Reuters, Buffett’s company now has a total of 133 million shares at Apple that, together, are worth well over $17 billion. Prior to the Nov. 8 U.S. election, Berkshire spent approximately $20 billion on stocks.
Related News: Warren Buffett Reveals Stock Purchased After Trump Win
Buffett was a supporter of Democratic presidential candidate Hillary Clinton but claims he believes the economy will fare well under President Trump. While he disagrees with some of Trump’s actions and policies, Buffett favors his choice for Rex Tillerson as secretary of state, saying he makes “a lot of sense.”
In terms of the overall stability of the equity market, Buffett is unsure as to what will happen in the future. He told CNBC it’s possible for shares to “go down 20 percent tomorrow.”
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