Warren Buffett says he's interested in buying more Apple - if it were cheaper
- Warren Buffett said in a Monday interview that he would be buying more Apple shares if the stock were "cheaper."
- He added that he has "never sold a share" of Apple despite the fact that Berkshire Hathaway trimmed its stake in the fourth quarter.
- Buffett also said in May that the firm would "love to see Apple go down in price" so he could buy more.
Berkshire Hathaway CEO and acclaimed investor Warren Buffett says he'd be buying more Apple shares if it were "cheaper."
"If it were cheaper, we'd be buying it," Buffett said in a Monday morning interview with CNBC's Becky Quick, co-host of Squawk Box. "We aren't buying it here."
He also said that despite the fact that Berkshire Hathaway trimmed its Apple stake in the fourth quarter, he has "never sold a share." Rather, he says it was a manager at the firm who had sold Apple shares to put toward a new investment. Berkshire Hathaway currently owns a 5.4% stake in Apple, valued at around $44.7 billion.
Apple stock is currently trading at $175.34, down from the $207.05 price it hit in August when it became the first US company to be worth $1 trillion on the public markets.
The interview comes days after Buffett published his annual letter to shareholders on February 23, in which he discussed topics such as his plan to repurchase the company's own stock, among other items.
It's not the first time the 88-year-old investor has expressed interest in adding to his Apple holdings if the company's price were to drop. "From our standpoint we would love to see Apple go down in price," Buffett said in May during his annual shareholders meeting. "We very much approve of them repurchasing shares."
In the first quarter of 2018, Berkshire Hathaway added 75 million shares to the 165.3 million shares it owned at the end of 2017, as CNBC reported last May.
"Nobody buys a farm based on whether they think it's going to rain next year or not," he said to CNBC at the time. "They buy it because they think it's a good investment over 10 or 20 years."
Watch Buffett's Monday morning interview on CNBC's Squawk Box below:
Warren Buffett on Apple: 'If it were cheaper, we'd be buying it' from CNBC.