Despite the negative analysts' predictions and weak sales of the new iPhone, legendary investor Warren Buffett continues to buy Apple shares. According to the Securities and Exchange Commission, he bought 522,802 shares of Apple in the third quarter of 2018.
On November 15, the SEC announced that by the end of September Berkshire Hathaway holds 252,478,779 AAPL shares.
Berkshire Hathaway's investments clearly show Buffett's confidence in the technology giant, despite analysts' fears that iPhone sales – the most important Apple product – have peaked and dropped.
In its quarterly report, Apple told investors it would no longer report the number of iPhones, iPads and Macs sold. This move suggests that Apple is trying to hide the number of smartphones sold because sales have stopped growing.
"Data on the number of iPhone sold so far is not as up-to-date as it used to be"- said Apple CEO Luca Maestri.
Buffett seems to agree with Maestri's opinion and explains why it's profitable to invest in Apple.
"I'm not focusing on iPhone sales in the next quarter or next year. It does not matter that Apple will not announce the exact number of smartphones sold. Hundreds of millions of people use these devices in everyday life and this is the most valuable property in the worldBuffett said.
In 2016, Berkshire bought Apple shares for $ 1 billion. Now Buffett's empire is Apple's third shareholder, with about 5% of the company's shares.