WARREN BUFFETT: Bitcoin is 'probably rat poison squared'

Dow Jones Industrial Average Extending Gains

At times, there will be tensions in a relationship such as the one between China and the US, Buffett said.

His endorsement helped lift Apple stock to an all-time closing high.

"I'm delighted to see them repurchasing shares", Buffett told Berkshire shareholders at the conglomerate's annual meeting.

The recovery in the share prices makes it less opportune for Apple's corporate treasury to execute purchases as it proceeds with an additional $100 billion of buybacks in an effort to further winnow down its mountain of cash.

Buffett said that cyber risk is part of his estimate that every year carries about a 2 percent chance of a super catastrophe that would cause $400 billion or more of insured losses.

Speaking at the annual Berkshire Hathaway shareholder meeting, Buffett praised Apple for creating "extremely sticky" products that bring customers into its ecosystem.

National Basketball Association wants rapper Drake to tone it down after Kendrick Perkins stoush
Cavaliers guard Jose Calderon , who used to play for the Raptors , stood in front of Drake during his exchange with Perkins. A few days a go, the rapper and Kendrick Perkins had a heated moment during the game which resulted in security intervening.

The Cupertino, California-based company's global sales accounted for 65% of the quarter's revenue, and its earnings per diluted share jumped by 30%.

Warren Buffett, chairman and CEO of Berkshire Hathaway, appeared on CNBC's Squawk Box on Monday morning, and he urged people to start investing in the first 10 years of their working life.

At the time, the holding was worth more than $28 billion but after the recent share purchase and an 8 percent increase in Apple's stock price, Berkshire's stake is now worth more than $44 billion.

At the end of 2017, Berkshire had owned 165.3 million shares.

On Friday, shares in Apple rose 4 per cent on news he was raising his stake in it. The stock traded at a discount to its 60-day VWAP through much of the quarter, and Apple spent $18 billion to buy up its own shares, according to filings.

As is the case with all his investments, Buffett said he's looking at the long term and wasn't particularly anxious about whether Apple would hit various sales targets in the first quarter.

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