Warren Buffett’s investment in Apple stock has in recent years become far and away the most prominent holding in Berkshire Hathaway’s $360 billion equity portfolio. Warren Buffett addresses shareholders at the annual meeting of his Berkshire Hathaway Inc. during webcast in Omaha, Nebraska May 2, 2020 (video still via Yahoo Finance) Josh Schafer for Yahoo Finance: Berkshire first bought the stock in 2016, and since then Apple has grown to a $110 billion position comprising roughly 40% of Berkshire’s stock holdings. Berkshire owns just under 6% of Apple. The rapid growth has positioned the largest US public company as a fixture in Berkshire Hathaway’s annual shareholder letters and Buffett’s comments during annual meetings. At Berkshire’s annual shareholders meeting on Saturday,…

MacDailyNews presents live notes from Apple’s Q223 Conference Call with analysts starting at 2pm PDT / 5pm EDT today, May 4, 2023. This stream is best experienced on an iPhone 7 or later, iPad (5th generation or later), or iPod touch (7th generation) using Safari on iOS 12 or later; or a Mac using Safari on macOS Mojave 10.14 or later. Streaming to your TV requires an AirPlay 2–capable device, or via AirPlay to an Apple TV (2nd generation or later) with the latest Apple TV software or tvOS. Other platforms may also be able to access the stream using recent versions of Chrome, Firefox, or Microsoft Edge (MSE, H.264, and AAC required). Apple’s live conference call webcast will begin…

Apple today announced financial results for its fiscal 2023 second quarter ended April 1, 2023. The company posted quarterly revenue of $94.8 billion, down 3 percent year over year, and quarterly earnings per diluted share of $1.52, unchanged year over year. “We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” said Tim Cook, Apple’s CEO, in a statement. “We continue to invest for the long term and lead with our values, including making major progress toward building carbon neutral products and supply chains by 2030.” “Our year-over-year business performance improved compared to the December…

Workers at Apple’s unionized retail store in Maryland are asking for higher pay, additional time off, and changes including allowing customers to tip employees. Mark Gurman for Bloomberg News: The employees, represented by the International Association of Machinists & Aerospace Workers, are conducting negotiations with Apple on Wednesday and Thursday. Their latest proposal calls for raises of as much as 10%, as well as major changes to the outlet’s vacation policy, bereavement leave and overtime. The store in Towson was the first Apple retail location in the US to unionize, and other efforts since then haven’t made much headway. Workers at a location in Oklahoma City agreed to unionize, though negotiations with Apple haven’t begun. Efforts in Atlanta and St.…

Apple and Microsoft have never occupied this much of the S&P 500 Index, leaving some investors worried about the gauge’s increasingly top-heavy nature. Subrat Patnaik for Bloomberg News: The world’s two most-valuable companies saw their combined weightings in the benchmark jump to a record 14% this week after strong earnings reports from Microsoft and others fueled a rally in technology stocks. “It’s concerning to have such concentration in a few names and all those companies are in the very similar tech and communication services sectors,” said Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management. “This concentration will drive broader market performance until it doesn’t.” According to Tejas Dessai, an analyst at Global X ETFs, the growing influence…