After Jan. 1 and before Apple reported earnings on Jan. 31, Buffett's Berkshire Hathaway added almost 76 million Apple shares to its holdings. Asked why, he said, "Because I liked it!"
The purchases that Buffett revealed on Monday give Berkshire Hathaway about 2.5 percent outstanding Apple shares. It also makes Apple one of Buffett's company's largest holdings, second only to Coca-Cola.
At this point, Buffett owns $17 billion worth of the tech giant's stock. The legendary investor said he upped his stake because of the consumer-retaining power of Apple and CEO Tim Cook's smart capital deployment strategy.
"Apple strikes me as having quite a sticky product, and an enormously useful product to people that use it," Buffett told CNBC.