Berkshire Hathaway (BRKB) chief Warren Buffett lavished more praise on Apple (AAPL) Monday, sending the iPhone maker's stock to a fresh all-time high.
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Days after Berkshire Hathaway's annual shareholder meeting, Buffett told CNBC he would "love to own 100%" of Apple stock. His company currently has a 5% stake in Apple worth around $11 billion.
Buffett's business partner and fellow billionaire investor Charlie Munger chimed in with a similar view.
"I think we've been a little too restrained," Munger told CNBC from Omaha, Neb. "I wish we owned more of it."
Apple Breakout
While capital and regulatory hurdles make owning 100% of Apple impossible even for one of America's most revered investors, Buffett's words set Apple shares rallying again.
Shares pared gains sharply but closed up 0.7% at a fresh high of 185.16 on the stock market today, after surging 3.9% to 184.25 on Friday, easily clearing a 179.04 buy point in a double-bottom base. A strong RS line and heavy buying volume backed Apple's breakout.
Apple shares vaulted 13% last week thanks to an impressive earnings beat, a massive buyback plan and news that Berkshire Hathaway added 75 million shares to its stake in the technology giant in Q1.
Apple has jumped 10% year to date vs. a 0.3% gain for the S&P 500.
Other outperforming stocks in Buffett's stock investment portfolio year to date include Mastercard (MA) (25%), Sirius XM (SIRI) (25%) and Phillips 66 (PSX) (16%).
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The post Berkshire's Warren Buffett Would 'Love To Own 100%' Of This Stock appeared first on Investor's Business Daily.
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