Shares of Cupertino, California-based tech giant Apple Inc. (AAPL) continue to soar to 澳洲幸运5官方开奖结果体彩网:all-time highs on news of legendary investor 澳洲幸运5官方开奖结果体彩网:Warren Buffett's growing stake in the company. The CEO of Omaha, Nebraska-based 澳洲幸运5官方开奖结果体彩网:conglomerate 澳洲幸运5官方开奖结果体彩网:Berkshire Hathaway Inc. (BRK.A) praised Apple Inc. (AAPL) and its management team, including leader Tim Cook, telling CNBC in an interview that he would buy the entire company if he could. Microsoft Corp. (MSFT) co-founder Bill Gates has backed his long-time friend and fellow billionaire philanthropist's decision to increase his stake in the smartphone maker, calling it an “amazing” company with the best profit potential in the tech world currently. (See also: Berkshire Hathaway Has Exited IBM: Buffett.)

Apple opened at record highs on Monday following Buffett's remarks that he’d buy 100% of the company after grabbing 75 million additional shares of the 澳洲幸运5官方开奖结果体彩网:FAANG stock in the first quarter.  

Praise From Gates

In an interview with CNBC on Monday in Omaha, where Berkshire held its highly anticipated 2018 澳洲幸运5官方开奖结果体彩网:annual shareholder meeting on Saturday, Gates backed Buffett's "great thinking" in increasing his stake in Apple from ꦉ165.3 million shares at the end of 2017.

"The multiple's not gigantic," said Gates, adding that Apple is "not like a tech speculative company where it's still losing money or anything." AAPL, trading up 1.7% on Monday morning at $186.92 reflects a 10.7% gain 澳洲幸运5官方开奖结果体彩网:year-to-date (YTD) and a 25.5% return over 12 months, compared to the 澳洲幸运5官方开奖结果体彩网:S&P 500's near-flat run and 11.6% increase over the same respective periods. Apple trades at a 澳洲幸运5官方开奖结果体彩网:price to earnings ratio of 17.2, compared to the 澳洲幸运5官方开奖结果体彩网:Nasdaq 100's average company at 25.1 times, while its 2018 澳洲幸运5官方开奖结果体彩网:forward  P/E ratio of 16.1, according to Nasdaq data, compares to 20൲ times for ဣthe average Nasdaq 100 company. 

 "The top tech companies do have a very strong profit position right now, but Apple has the most of all," said Gates. (See also: 澳洲幸运5官方开奖结果体彩网:Buffett: I Was Wrong on Amazon, Google.)