FIRST AIRED: February 27, 2017

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COMING UP:Share Opener Variant 1

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Transcript

00:00:02
>> Billionaire investor Warren Buffet was hungrier for Apple than we thought. Buffet telling CNBC Monday that bructure halfway more than doubled it's stake in Apple from the end of last year to about a hundred thirty three million shares. Apples shares soaring to record highs in recent weeks. Up over 18% this year, mostly on hopes that its 10th anniversary iPhone will be a smash.
00:00:25
Buffett also predicting that Apple would reach a trillion dollar valuation before his own company Berkshire Hathaway. That would make it the first company to hit such a milestone, and Reuters Breaking News columnist, Robert Cyran, says he might just be right.>> Apple trades at about 25% discount to the S&P 500.
00:00:42
If it simply closed that gap and then you treated it as cash, it has about 140 billion of cash on its book, net cash. At par the company would be worth over a trillion dollars, so it's not pie in the sky at all. Berkshire Hathaway now has about 18 billion dollars worth of Apple, making it the second biggest holding.
00:01:00
Known in the past for shunning a lot of tech stocks he said he didn't understand, Buffet told CNBC quote Apple strikes me as having quite a sticky product, and an enormously useful product to people that use it, not that I do. Now all Apple has to do is deliver that next hit product that maybe even convince Buffet to become a user and not just an investor.