Here's why Warren Buffett isn't anxious about Berkshire Hathaway when he retires

Buffett says Berkshire Hathaway sound even without him

Buffett said their promotions have been "very, very good" for the company.

Speaking at the annual Berkshire Hathaway meeting on Saturday, Warren Buffett replied to many questions about the massive purchases from Apple, saying "I didn't go into Apple because it was a tech stock in the least", and "I went into Apple because I came to certain conclusions about both the intelligence with the capital they deploy, but more important the value of their ecosystem and how permanent that ecosystem could be". With the news kickstarting the new week, CNN Money reported that Apple shares rose almost 2 percent on Monday and that the world's biggest tech company by market cap is now worth more than $940 billion.

"If you look at Apple, I think it earns nearly twice as much as the second most profitable company in the United States". "It's worked for us in many other situations".

"It's like worrying about the number of Blackberrys ten years ago".

Last week, Apple delivered better-than-expected March-quarter results on strong services and wearables sales.

The firm said it sold 52.2 million iPhones in the last three months, which was in line with analysts' expectations. Warren was appreciative of the buyback programme too and CNBC reported that he said, "When I buy Apple, I know that Apple is going to repurchase a lot of shares", he said.

If it crosses the trillion-dollar threshold, it will become the first USA company to do so - a title that fellow tech giants Amazon, Google and Microsoft have also been vying to achieve.

"Apple's an incredible company, and the multiple's not huge, the top tech companies do have a very strong profit position right now but Apple has most of all".

According to reports, Apple is now worth over $120 billion more than its tech rivals such as Amazon at $773 billion, Microsoft with $732 billion, and Alphabet, the parent company of Google, which stands at $719 billion market cap valuation.

Now, many have begun looking ahead to upcoming iPhone releases in September as additional propellants for the stock.

The second-generation iPhone X would feature an even bigger screen, yet it may have a cheaper price point at just US$550 vs. the US$999 iPhone X.

Related news:

Hot News

isis-killer-beheading-video-story-top Yemen rebels fire two missiles at Saudi capital: coalition
May 10, 2018 - 00:38
It was the busiest day in US front-month contracts since August, and for Brent the busiest in nearly a month. But the USA sanctions on Iran, assuming they are effective, mark the end of the current output agreement.

isis-killer-beheading-video-story-top Ridgefield High School Ranked #5 In Connecticut
May 10, 2018 - 00:35
OSHS ranked #1476 out of the 22,000 schools examined, meaning it ranked among the top seven percent of all high school nationwide. Loveless Academy Magnet Program in Montgomery (LAMP) was named the top high school in Alabama.

isis-killer-beheading-video-story-top Alex Ferguson Regains Consciousness After Head Surgery
May 10, 2018 - 00:34
Wales manager Giggs was part of all 13 of Ferguson's title-winning sides in a 24-year playing career at Old Trafford. He's a strong man and an optimistic man.

isis-killer-beheading-video-story-top N. Korean leader holds another summit with Xi Jinping
May 09, 2018 - 01:17
Intense secrecy typically surrounds high-level North Korean visits to China, and this week's trip was no different. But despite Trump's indication of an imminent release, Pompeo said that the plans have not been finalized.

isis-killer-beheading-video-story-top Google Maps and Google Lens giving more personal results
May 09, 2018 - 01:16
Once finalised, Google Maps already has functionality to let you make a reservation as well as book a cab ride to the venue. Besides directions, the mode also helps identify nearby places, so you have a better feel for the neighborhood.

isis-killer-beheading-video-story-top Yankees and Red Sox to play in London next year
May 09, 2018 - 01:15
Major League Baseball announced Tuesday that Oakland and Seattle will open next season at the Tokyo Dome on March 20-21. These are the two best baseball teams in the world and arguably the two best sporting teams in the world.

isis-killer-beheading-video-story-top Takeda, Shire reach agreement on buyout
May 09, 2018 - 01:15
The acquisition is expected to see Takeda gain potentially promising new drugs and also to expand its sales channels. It ends weeks of wrangling, with a string of previous offers having been rejected by the Irish firm.

isis-killer-beheading-video-story-top Cavs won't ban Rodney Hood over refusal to enter game
May 09, 2018 - 01:12
A source told ESPN that Hood "feels awful" and plans on apologizing to coaches and teammates for his insubordination. As of now, it remains unknown why Rodney Hood decided not to play in Game 4.

isis-killer-beheading-video-story-top Nikol Pashinyan elected Armenia's prime minister
May 09, 2018 - 01:03
He said he would fire some holdovers from the ruling elite, among them the defense minister, but said there would be no "pogrom". Its isolation led it to depend heavily on former colonial ruler Moscow.

isis-killer-beheading-video-story-top J.Cole KOD Tour makes a stop at Little Caesars Arena
May 09, 2018 - 01:03
Cole will return to Sacramento on September 4 to headline a Golden 1 Center concert featuring fellow rapper Young Thug . Cole and Young Thug are hitting the road later this year and the duo are stopping in Sacramento.

isis-killer-beheading-video-story-top Pokémon GO Fest 2018 And Safari Zone 2018 Announced
May 08, 2018 - 01:03
That will be followed by the second annual Pokemon Go Fest , which will take place in Chicago's Lincoln Park on July 14-15. While the event originally took place at Grant Park last year , this year's version will be located at Lincoln Park.

isis-killer-beheading-video-story-top This JBL Link Bar is Google's first Android TV and Assistant hybrid
May 08, 2018 - 01:01
The Android operating system powers numerous world's smartphones and drives consumers to Google's cash-minting apps. It also brought some much-needed improvements in the product such as prolonged battery life and a dark mode.

isis-killer-beheading-video-story-top Watch Microsoft's Build 2018 keynote live, here
May 08, 2018 - 00:59
Furthermore, this is actually Microsoft's second crack at trying to make the Kinect into a business-focused product. Users can also design mixed-reality spaces like room layouts, holograms which can be shared in real-time.

isis-killer-beheading-video-story-top President Trump weighs in on W. Va. Senate race
May 08, 2018 - 00:58
Blankenship rejects the comparisons to Moore, which were amplified when the president urged voters Monday to "Remember Alabama". Just a day before West Virginia's primary election, President Donald Trump has weighed in on the GOP Primary.

isis-killer-beheading-video-story-top Police Stop Native American Boys Who Made Mom 'Nervous'
May 07, 2018 - 06:29
The school added, "We deeply regret the unwelcoming and concerning experience they had while guests on our campus". According to the report , officers located the group at the CSU Student Rec Center.