Apple is 'ungodly well-managed,' says Berkshire Hathaway vice chair
Berkshire Hathaway Vice Chairman Charlie Munger has praised Apple's management, calling the Cupertino tech giant "one of the strong companies" — and adding it'll likely stay that way.
Apple represents Berkshire Hathaway's largest stock holding, despite the fact that Munger and Berkshire chairman Warren Buffett often talk about their lack of expertise in the technology industry.
In a recent interview with Yahoo News, Munger revealed one of the key reasons why Berkshire believes in Apple. It comes down to management.
"I think Apple is one of the strong companies and will stay a strong company," Munger said. "I think it's ungodly well-managed."
Berkshire Hathaway has, over the years, built up a strong portfolio of tech stock holdings. However, the investment company still holds Apple as one of its most valuable assets.
"I judge the strength of the company based on how much the customers love it," Munger said. "And I've got zillions of friends who they'd almost part with their right arm before they'd part with their iPhone. That's a hugely powerful position to be in."
This is not the first time that someone at Berkshire Hathaway has sung Apple's praises. Back in May 2021, Warren Buffett called Apple CEO Tim Cook "one of the best managers in the world" during a shareholders meeting.
Apple has seen exceptional growth during the pandemic, with the company recording some of its best quarters to date. Since February 2021, Apple shares are up 29.8%, outpacing competitors like Google, Microsoft, and Amazon.