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.

Buffett's praise followed news that Apple will host its annual corporate event on Sept. 12, where its expected to unveil a new suite of iPhones that could potentially include a model with a so-called 'edge-to-edge' screen that is similar to the current iPhone-X.
Apple shifted 41.3 million iPhones in the three months ending in June, the company's fiscal third quarter, a figure that fell modestly shy of analysts' forecasts but was more than offset by a boost to the average selling price of each unit, which rose to $724 thanks to the $1,000 iPhone X, which the company said had record sales.
That helped drive revenues to $53.3 billion, just ahead of forecasts, and lift the group's bottom line to $2.34 a share, a figure that was well ahead of the Street forecast of $2.18. Apple also said it sees current quarter revenues to come in as high as $62 billion, as it rolls out new iPhone models ahead of the holiday shopping season.