Warren Buffett’s outlandish bet AppleHe may make one of his best investments. It was worth more than $120billion, as the tech company broke yet another record. top a $3 trillion market valuation this week.

Berkshire HathawayApple stock began to be purchased in 2016, and the conglomerate had acquired a 5% stake in the iPhone-maker by mid-2018. The investment cost $36 million. As the enormous rally continued into 2019, Apple’s investment has now reached $160 Billion.

Edward Jones Berkshire analyst James Shanahan stated that it was “without a doubt” one of Berkshire’s strongest investments in the past decade.

Apple’s huge share price rise has not only been great for Apple, but Berkshire has found lucrative investments in Apple due to the high payouts. Berkshire receives regular dividends of approximately $775 million each year.

Buffett’s dislike for high-flying technology stocks has been documented well over the years. But the “Oracle of Omaha,” Ted Weschler, and Todd Combs were instrumental in bringing the company into the mainstream. According to InsiderScore.com, Berkshire now holds more than 40% in Apple shares. This conglomerate holds Apple’s largest share, other than index and exchange traded fund providers.

Apple Berkshire was the name of an investor who is a multi-billionaire. “third-largest business,” after its insurance and railroad interests. Buffett previously said iPhone is a “sticky” productThis ensures that people are kept within the company’s network.

Buffett stated that it was “probably the most successful business I have ever known” in an interview with CNBC in February 2020. Apple is not a stock to me. It is our third business.

Buffett isn’t likely to crowing on the winning trade. In fact, he doesn’t like it. Buffett often points out in the moments when shares appreciate that these gains may not be real. They are subject to more fluctuations.

The investor still made some real income over the years. Berkshire’s Apple stake has decreased slightly since 2018. The conglomerate earned $11 billion by 2020. Berkshire actually has an even larger stake in Apple thanks to its repurchase programs which reduced the outstanding shares.

The conglomerate stated in 2020 its annual report that “Berkshire’s investment in Apple clearly illustrates the power and potential of repurchases.” “Despite the sale [in 2020] – voila! – Berkshire now owns 5.4% of Apple. This was because Apple continues to repurchase its shares and thereby significantly reducing the outstanding number.

However, this is not all the positive news. Because we also repurchased Berkshire shares during the 2 1⁄2 years, you now indirectly own a full 10% more of Apple’s assets and future earnings than you did in July 2018,” Berkshire said in the report.

The investment in the tech giant played a crucial role in helping the conglomerate weather the Covid-19 crisis in 2020 as other pillars of its business, including insurance and energy, took a huge hit.