Berkshire Hathaway (BRK.B) Receives $208.79 Consensus PT from Analysts

Elon Musk and Grimes

Elon Musk and Grimes

Now, Buffett says he wants to buy even more of the company... The rules, which require Berkshire to report unrealized gains or losses in equity investments in net income, helped fuel a USD1.14 billion loss in the first quarter, the company said.

Warren Buffett has indicated he would be interested in increasing his stake in Apple, as long as shares in the technology giant were available at the right price. Berkshire is now Apple's third largest shareholder, behind Vanguard Group and BlackRock.

Buffett also spoke about one of Apple's main rivals - Google - admitting it had been a mistake for Berkshire not to invest in Alphabet, its parent company, and Amazon.

Buffett said that the world depends on the United States and China for progress, dismissing concerns that the two countries' trade tensions could potentially escalate into a trade war.

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"I do not believe on imposing my political opinions on the activities of our businesses", Buffett said, drawing applause from the admittedly pro-free-market crowd.

At Berkshire Hathaway's annual shareholder's meeting, Buffet endorsed Apple's buyback program.

"I love the idea of having our 5 percent, or whatever it is, maybe grow to 6 or 7 percent without our laying out a dime".

Buffett, who's preparing to direct the firm's yearly shareholder meeting later on Saturday afternoon, told CNBC on Friday the firm acquired another 75 million stocks of Apple throughout the first quarter, adding to the large holdings. Vetr upgraded shares of Berkshire Hathaway from a "hold" rating to a "buy" rating and set a $212.93 price objective on the stock in a research report on Monday, February 5th.

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And Buffett predicted "bad endings" for cryptocurrencies, such as bitcoin, and said long-term US government bonds were a awful investment because inflation would consume their returns.

"My phone is not ringing off the hook with good deals", he said. "If you look at Apple, I think it earns nearly twice as much as the second most profitable company in the U.S".

Net loss attributable to shareholders for the quarter was USD1.14 billion, compared to a profit of USD4.06 billion previous year.

That compares to a profit of US$4.07 billion in the same quarter of a year ago.

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