If Warren likes it.

Apple Inc. (AAPL - Get Report) shares extended their record-setting run Friday after billionaire investor Warren Buffett said his Berkshire Hathaway (BRK.A - Get Report) 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.