"I'm surprised [Warren Buffett's Berkshire] bought more Apple," Berkshire Hathaway shareholder Robert Miles, also author of the book titled, "The Warren Buffett CEO," said in an interview Monday on CNBC's "Power Lunch."
Miles is referring to the fact that the company more than doubled its Apple holdings in 2017. Buffett talked to CNBC in an exclusive interview Monday morning, trumpeting stocks and bashing bonds.
While Miles doesn't fully understand Buffett's newfound interest in Apple — Buffett has long steered away from tech companies and instead toward steady, dividend-paying stocks — he was "comforted" to hear the 86-year-old speak on CNBC this morning … "very sharp, able to recall facts and figures."
Vahan Janjigian, CIO of Greenwich Wealth Management, chimed in during Miles' "Power Lunch" interview, saying Buffett probably views Apple as more of a "consumer products company."
"[Buffett] doesn't know about tech, but he knows people love iPhones and will continue to buy them," Janjigian said.
Miles added that the world is getting a glimpse into what the "Berkshire Hathaway of the future" might look like: "Now with the two recent additions to [Berkshire's] portfolio — Apple and airlines. … We are seeing acquisitions led by outstanding investment managers."
As for the debate on stocks versus bonds — and Buffett's preference for stocks — Janjigian says bond investors are "more skeptical" of Trump's policies than equity investors. For that reason, bond yields remain low, he said.
The runup in the stock market since Trump's election is a "little unjustified," Janjigian told CNBC. "Investors are focusing on the good aspects of Trump's policies … like tax reform … and ignoring the bad aspects, like trade wars."
Here are all the stories culled from Buffett's wide-ranging "Squawk Box" interview:
- Buffett says US stock market not in bubble territory
- Why anyone would buy a 30 year bond 'absolutely baffles me'
- Buffett more than doubled his holdings in Apple in 2017
- 'I don't have a good answer' on why I didn't buy Amazon
- 'Obscene' hedge fund fees make people rich — just not investors
- Buffett to judge Trump on how he handles No. 1 threat
- It's going to be 'tough' for GOP to pass revolutionary tax reform
- Kraft Heinz bid for Unilever was not a 'hostile offer'
- I like airlines because they just 'got a bad century out of the way'
- Buffett sees only 2 newspapers with an 'assured future'
- Here's the very simple 'metric I use' before investing in a bank
- Buffett sees self-driving cars hurting the insurance industry
- March Madness contest: Buffett offers employees a way to get rich
— CNBC's Matthew Belvedere contributed to this report.