Part with the right arm than with the iPhone! Ahead of iPhone 14 launch, Apple power redefined
Apple, one of the most powerful brands on the planet, has been recognized and showered with praises by an equally powerful investor, Charlie Munger ahead of the iPhone 14 series launch. In a recent interview with Yahoo Finance, the Berkshire Hathaway vice-chairman acknowledged the well-managed nature of Apple and stated that it was going to “stay a strong company”. Interestingly, the iPhone manufacturer is also Berkshire’s largest stock holding, highlighting the faith the investment firm has on Apple. And this is after both Munger and Warren Buffett, the chairman of Berkshire, often state that they possess inadequate knowledge of the tech industry.
Munger has built up quite a reputation as an investor, working besides the legendary Buffet. He was previously the chairman of Wesco Financial Corporation (now a wholly owned subsidiary of Berkshire Hathaway) which held an investment portfolio of $1.5 billion in major firms like Coca-Cola, Wells Fargo, Procter & Gamble, Kraft Foods, US Bancorp, and Goldman Sachs.
In the interview with Yahoo Finance, one particular statement by Munger went viral where he said that Apple is “ungodly well-managed”. Munger’s comments highlighted the “strength of the company based on how much the customers love it”. Apple has been performing well in FY2022. In the first quarter, the company reported an all-time high sales of $123.9 billion, which is 11 percent higher than the previous year.
Apple has witnessed an almost fandom level of appreciation from consumers. It has become a common sight when people wait in lines up to 24 hours in advance just to get their hands on the latest Apple product. Noticing this trend, Munger said, “I've got zillions of friends who'd almost part with their right arm
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