Warren Buffett Reaffirms Apple as a Favorite Stock Ahead of CEO Succession

Warren Buffett told CNBC on July 15 that Apple remains one of his favorite businesses, expressing no concern as Tim Cook prepares to hand the CEO role to John Ternus on Sept. 1. Berkshire Hathaway owns over $70 billion in Apple stock (about 22% of its equity portfolio) and left the position untouched in Q1, the first full quarter under new CEO Greg Abel, signaling quiet confidence.

Why it matters: Apple posted record March-quarter results with 17% revenue growth to $111.2 billion and 22% EPS growth to $2.01, driven by record iPhone revenue of $57 billion and services revenue hitting $31 billion, though the stock trades at a steep ~40x earnings multiple.