If Warren likes it.
Apple Inc. (AAPL) shares extended their record-setting run Friday after billionaire investor Warren Buffett said his Berkshire Hathaway (BRK.A) investment firm continues to add to its holdings of the world's most valuable company.
Buffett also said that Apple's flagship $1,000 iPhone was "enormously underpriced" when compared to the value it offers consumers and added that he's a frequent user of his own personal iPad. In an interview with CNBC television Thursday, Buffett said Berkshire added "just a little" more to its 252 million share holding in Apple since the company's last update at the end of June, suggesting a stake that is now worth around $56 billion, or 5% of the Cupertino, Calf.-based tech giant.
"I have a plane that costs me a lot, a million dollars a year or something of the sort," he told CNBC. "If I used the iPhone -- I use an iPad a lot -- if I used the iPhone like all my friends do, I would rather give up the plane."
"Now it's got competition so you can't push the price, but in terms of its utility to people and what they get for a thousand dollars. You can have a dinner party that would cost that, and here this is, and what it does for you, it's incredible."
Action Alerts Plus holding Apple shares were marked 1.16% higher at $227.63 each, a move that tops yesterday's intra-day high of $227.97, extends its year-to-date gain to around 33.3%, and values the group at just over $1.1 trillion.
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