In his recent interview, Microsoft founder Bill Gates called fellow company Apple an ‘amazing’ company.
business magnate Bill Gates called the Cupertino tech-giant Apple as an ‘amazing’ company. The interview came after Apple released their earnings report. The company’s shares too saw a major boost when investor Warren Buffett disclosed that Berkshire Hathaway picked up almost 75 million of Apple’s shares during the March quarter.
During his interview, Gates said, “Apple’s an amazing company, and the multiple’s not gigantic, the top tech companies do have a very strong profit position right now but Apple has most of all. I think Warren has applied great thinking there, it’s not like a tech speculative company where it’s still losing money or anything.”
there had previously been many rumors that Apple’s iPhone X didn’t perform well that led to decline in Apple’s earning, however, when Apple released its earnings report, the results were entirely different. Not only did iPhone sales for the March quarter become strong but also, CEO Tim Cook boasted during a following earning conference claiming that iPhone X was the most popular iPhone model for every single week during the quarter.
Tech Juice wrote, Gates and Buffet have been long-term friends with Gates even being a Berkshire Hathaway board member for over a decade. Even Buffett praised Apple by saying, “I clearly like Apple. We buy them to hold. We bought about 5% of the company. I’d love to own 100 percent of it. … We like very much the economics of their activities. We like very much the management and the way they think.”