Elon Musk and Grimes.   Charles Sykes  AP

"I'm delighted to see them repurchasing shares", Buffett said.

Buffett reiterated his distaste for crypto currency, saying its price is determined only by whether someone else is more excited to own it.

A day after acquiring the shares, Buffett said the iPhone maker should spend more cash buying its own shares.

USA billionaire investor Warren Buffett said on Saturday that the world depends on the U.S. and China for progress, dismissing concerns that the two countries' trade tensions could potentially escalate into a trade war.


Speaking at Berkshire's annual shareholder meeting, Buffett credited Apple with developing "extremely sticky" products to which consumers become attached, Reuters reports. Berkshire is now Apple's third largest shareholder, behind Vanguard Group and BlackRock Inc.

"I love the idea of having our 5 percent, or whatever it is, maybe grow to 6 or 7 percent".

CNBC also reported Sunday that DataTrek Research co-founder Nick Colas-the first analyst on Wall Street to have covered Bitcoin-was advising that now is not the right time to buy Bitcoin, as growth in new entrants to the market is shrinking.

Do cryptocurrency investors care what Warren Buffett has to say on the subject?


However, the "Oracle of Omaha" told investors investing Berkshire's cash stockpile-which now amounts to around $108 billion-was a challenge.

However, operating profit excluding investment and derivative gains and losses, surged 49 percent year-on-year to a record $5.29 billion.

"My phone is not ringing off the hook with good deals", he said.


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