Business Corpus: Apple Stock Hits Record High On Warren Buffett CommentsApple stock climbed to record heights on Monday following bullish comments from billionaire investor Warren Buffett, and continued its march toward a $1 trillion market cap. The post Apple Stock Hits Record High On Warren Buffett Comments appeared first on Investor's Business Daily.

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Apple stock climbed to record heights Monday following bullish comments from billionaire investor Warren Buffett.

Apple (AAPL) shares rose about 1%, near 185.60, in afternoon trading on the stock market today. Intraday, shares hit an all-time high of 187.67. It now has a market value of about $945 billion, continuing its march toward a $1 trillion market cap.

Shares of the iPhone maker broke out of a double-bottom base with a buy point of 179.04 on Friday.

Buffett, chairman and chief executive of investment firm Berkshire Hathaway (BRKB), told CNBC on Monday that he likes Apple so much that he would love to own all of it.

"I clearly like Apple. We buy them to hold," Buffett told CNBC. "We bought about 5% of the company. I'd love to own 100% of it. ... We like very much the economics of their activities. We like very much the management and the way they think."

Berkshire Hathaway held its annual meeting of shareholders Saturday, where executives discussed a range of topics including its growing stake in Apple. Berkshire is now the third-largest holder of Apple stock, behind Vanguard and BlackRock.

New iPhones Coming

Last week, Apple delivered better-than-expected March-quarter results on strong services and wearables sales. It earned $2.73 a share, up 30% year over year, on sales of $61.1 billion, up 16%, in its fiscal second quarter. Analysts expected earnings of $2.69 a share on sales of $61 billion.

Investors are "starting to fully appreciate the massive iPhone upgrade opportunity on the horizon for the next 12 to 18 months with three new smartphones slated for release" this fall, GBH Insights analyst Daniel Ives said in a report Friday.

He estimates that about 350 million iPhone owners will upgrade their handsets in the next year and a half.

Berkshire's Warren Buffett Would 'Love To Own 100%' Of This Stock

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