Warren Buffett praised Tim Cook for making huge profits from Apple at his final shareholder meeting before stepping down. Buffett shared how embarrassed he felt that Cook created more money for Berkshire than he ever did himself. Apple stock has grown 680 percent since Buffett first bought shares in 2016. The investor noted Steve Jobs built Apple, but only Cook could develop it further.
Berkshire once held Apple stock worth $174 billion despite spending just $40 billion to buy it over several years. The company recently sold nearly 70 percent of its peak holdings of 905 million shares. Cook helped Apple climb from around $15 per share to $205, making the company worth over $3 trillion today. Vice Chairman Greg Abel will replace Buffett as CEO. Cook thanked Buffett online, calling their friendship a great privilege.
Berkshire once held Apple stock worth $174 billion despite spending just $40 billion to buy it over several years. The company recently sold nearly 70 percent of its peak holdings of 905 million shares. Cook helped Apple climb from around $15 per share to $205, making the company worth over $3 trillion today. Vice Chairman Greg Abel will replace Buffett as CEO. Cook thanked Buffett online, calling their friendship a great privilege.
