Apple closes at a record after Buffett purchase revelation on Thursday. Buffett revealed the massive purchase to CNBC on Thursday, two days ahead of Berkshire Hathaway’s annual shareholders meeting. “It is an unbelievable company,” Buffett said. “If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States.”

The huge first quarter purchase is thought to bolster the 165.3 million Apple shares Berkshire owned at the end of 2017. If the fund held its position, as the report suggests, the resulting 240.3 million shares were worth about $42.5 billion at the end of trading on Thursday. Apple CEO Tim Cook said the company is “thrilled” to have Buffett and Berkshire as a major investor.

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