Buffett's Favorite Stock Continues to Thrive Under New CEO

Warren Buffett's investment in Apple has been a long-term success story. The legendary investor first bought Apple shares in 2016, and it has since grown into Berkshire Hathaway's single largest holding, accounting for nearly 22% of the conglomerate's roughly $263 billion equity portfolio.

Buffett invested about $35 billion in Apple between 2016 and 2018. His investment then rapidly surged to around $185 billion before tax, including dividends and gains, according to Business Insider. Buffett was quoted as saying, 'I didn't have to do a damn thing.'

Notably, Peter Lynch, a veteran American investor, revealed in an interview that he wished he had bought Apple shares earlier. He jokingly said, 'Apple was not that hard to understand. I mean, how dumb was I?' Lynch noted that Apple's balance sheet was attractive and recalled his daughter buying an iPod for $250, thinking Apple made high margins.

Apple is set to unveil its first foldable iPhone at an upcoming event, which will mark the company's first major launch since new CEO John Ternus took charge. Analysts expect the new phone to generate more than $45 billion in revenue for Apple by the end of next year, despite being expensive with a price tag of around $2,000-2,500.