“I think that Tim Cook is one of the classiest CEOs. He understands the business and he has a product, which Steve Jobs basically invented, but Tim Cook has managed that company in an extraordinary way. It’s a wonderful business so we own a lot of it.”-Warren Buffett, legendary investor
Apple went public on December 12, 1980. | Image credit-NASDAQ
During the most recent Apple stockholder meeting in May, Apple CEO Tim Cook said of Buffett and Berkshire Hathaway, “It’s a privilege to have them as a shareholder.” Speaking of stockholders, can you name the person who is the largest individual Apple stockholder? Hint: It’s not Eva Jobs, Steve Wozniak, or Tim Cook. With 4.43 million shares valued at $973 million, it is Arthur Levinson who is Apple’s Chairman of the Board.
“If you’re an Apple user and somebody offers you $10,000, but the only proviso is they’ll take away your iPhone and you’ll never be able to buy another, you’re not going to take it. If they tell you if you buy another Ford car, they’ll give you $10,000 not to do that, you’ll take the $10,000 and you’ll buy a Chevy instead.”-Warren Buffett, legendary investor
Because Apple plays a large role in several stock indices including the S&P 500 and the Dow Jones Industrial Average, the company’s largest institutional holders are index funds that must buy enough shares to mirror Apple’s weight in the index each fund follows. Mutual funds company Vanguard owns 1.17 billion shares of Apple or 7.63% of the company. Vanguard Index Funds own an additional 981.4 million Apple shares or 6.4% of the tech giant.
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