OMAHA - Warren Buffett bought 75 million shares of Apple in the first quarter, allocating more than 240 million shares of the iPhone manufacturer.
Buffett told CNBC about the latest acquisitions of Apple shares on Friday, when tens of thousands of shareholders start arriving at the annual Berkshire Hathaway meeting this weekend.
Berkshire continues to buy shares of Apple, even with a 25-percent increase in prices over the past 12 months. These actions reach a record level of all times.
In late 2017, Buffett held 165.3 million shares of Apple.
Buffett said that he believes that Apple is a consumer product company with a strong competitive position, and not a technology company.
In addition to investment, Berkshire has more than 90 branches in various industries, including insurance, public services, railways and manufacturing.
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