Apple (AAPL) has been a part of the Wealth Accumulated portfolio since 2nd February 2023.
At the time I had been pondering why Warren Buffett’s portfolio was made up of Apple to the tune of 40%
From https://t.co/o67q4xALTb, here’s the top 10 stocks in Warren Buffett’s portfolio from the latest quarterly filing.— D J Thomas (@djthomas) August 17, 2022
Apple is 40% and tech makes up the largest sector also at 40%.
Goes to show Buffett’s convection in Apple as a business.#warrenbuffet #techstocks pic.twitter.com/mwm42jKaRD
The most obvious answer without doing any fundamental research is that as a business, Apple is the most successful in the world.
iPhones are owned in every corner of the globe and Apple’s cash pile, famously held in off shore jurisdictions, is legendary.
Tim Cook is a well respected CEO and unless the numbers from a quick quant analysis of how the stock has performed over the last decade threw up any misgivings then there was no reason NOT to own the stock.
Apple’s banking on banking
Last month Apple launched a high yield savings account in partnership with Goldman Sachs that currently offers 4.15% on cash.
It accumulated over $1 trillion in deposits in its first four days and comes amid the continued flight out of regional banks and into the too big fail banks for depositors.
This is a smart move by Apple who can conveniently provide a way for its iPhone customers to get yield, albeit lower than other banks, in exchange the convenience and ease with which its iPhone customers can get such access.
Apple is exploiting its advantage in the banking space.
Apple’s a hold for now.