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Technology

Warren Buffett ‘wildly’ favors Apple buybacks–at this price (video)

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By Steven M. Peters Updated Published
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Told that Apple was down 3%, Buffett said “good.” And then the stock jumped two-bucks.

 

Before Buffett, CNBC’s Becky Quick asked Tim Cook how he heard that Berkshire Hathaway had been quietly gobbling up big bites of Apple.

I found out probably like you did. Which is, the [SEC Form] 13F gets filed, and somebody tells me about it. And, up, this is really cool! Buffett is investing in Apple!

We welcome all shareholders, but we run the company for the long term. And so the fact that we’ve got the ultimate long-term investor in the stock is incredible. Because our interests are aligned.

Cue the video. Buffett appears around 2:36.

Buffett: I’m ‘wildly’ in favor of Apple repurchasing shares from CNBC.

My take: Not many can move a market like Buffett.

Thanks to friend-of-the-blog Joseph Bland for the tip.

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