Warren Buffett: Apple is 'probably the best business I know in the world'

Buffett Talking AAPL
Buffett Talking AAPL (Image credit: iMore)

What you need to know

  • Warren Buffett has been speaking with CNBC.
  • He says that Apple is Berkshire Hathaway's third-largest commitment.
  • Apple is "probably the best business I know in the world".

Warren Buffett is a man who knows how to make money. So when he says that Apple is 'probably the best business I know in the world,' it's probably wise to listen to him.

He was speaking during an interview with CNBC, with his company Berkshire Hathaway reportedly ending 2019 with a 5.7% ownership in Apple stock.

So just how important is Apple to Berkshire Hathaway? Pretty important, it would seem.

Warren Buffett told CNBC that Berkshire Hathaway's "third largest business," after its insurance and railroad interests, is its stake in Apple."I don't think of Apple as a stock. I think of it as our third business," Buffett said on Squawk Box."It's probably the best business I know in the world. And that is a bigger commitment that we have in any business except insurance and the railroad," he said.Berkshire counts both insurance giant Geico Auto Insurance and North American railroad BNSF as wholly owned subsidiaries.

Also interesting was the news that until recently, Buffett has been using an old flip phone. That's changed, however, with a shiny new iPhone warming his pockets. Alongside his overstuffed wallet, presumably.

Buffett, a self-admitted Luddite, resisted using an iPhone, in favor of his flip phone, even as Berkshire doubled down on Apple stock. But on Monday, he told CNBC that he finally gave in and switched to an iPhone."My flip phone is gone," he said. "I've been getting several of them" over the years, including from Apple CEO Tim Cook.

Oliver Haslam

Oliver Haslam has written about Apple and the wider technology business for more than a decade with bylines on How-To Geek, PC Mag, iDownloadBlog, and many more. He has also been published in print for Macworld, including cover stories. At iMore, Oliver is involved in daily news coverage and, not being short of opinions, has been known to 'explain' those thoughts in more detail, too.

Having grown up using PCs and spending far too much money on graphics card and flashy RAM, Oliver switched to the Mac with a G5 iMac and hasn't looked back. Since then he's seen the growth of the smartphone world, backed by iPhone, and new product categories come and go. Current expertise includes iOS, macOS, streaming services, and pretty much anything that has a battery or plugs into a wall. Oliver also covers mobile gaming for iMore, with Apple Arcade a particular focus. He's been gaming since the Atari 2600 days and still struggles to comprehend the fact he can play console quality titles on his pocket computer.