The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
With the Federal Reserve deciding not to cut interest rates but leaving the door open for future cuts, experts are split on what comes next.Trading Nationread more
Berkshire Hathaway's recent decision to scoop up another 75 million shares of Apple shows yet again — Berkshire already held 165.3 million shares — that Apple is one of the few tech companies that fits into Warren Buffett's investment philosophy.
Buffett has frequently stated that he's a fan of investing in efficient companies that are run as simply as possible. Apple fits the bill. There's no guessing where it makes money: iPhones, iPads, Macs, services. "Here's a company with, whatever their earnings are, $60 billion, and you can put all their products on a dining room table," Buffett told CNBC's Becky Quick.
Plus, CEO Tim Cook has long been lauded as a master of the supply chain, which means he's good at getting millions of products built in an effort to meet overwhelming demand.
Buffett likes companies with long-term strategies. "Nobody buys a farm based on whether it's going to rain next year," he said on CNBC's "Squawk Box. " "They think it's a good investment over 10 or 20 years." That's why he doesn't worry about quarterly iPhone sales, even if Apple misses, because he's more interested in Apple's growth over the next decade.
Also, Apple's no longer just an iPhone company. The company's wearables business, which didn't even exist several years ago, is now the size of a Fortune 300 business and has no real competition. Its "services" business, which includes the App Store, iCloud, Apple Music and more, is also growing at a rapid rate.
"I see how strong that ecosystem is, to an extraordinary degree. … You are very, very, very locked in, at least psychologically and mentally, to the product you are using. [IPhone] is a very sticky product," Buffett said in February of the iPhone and Apple's ecosystem.
Apple's products and services are so popular they have the potential to survive bad management. Buffett thinks investing in a good business is better than investing in good management. Apple currently has both.
"If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station — I'm talking of the past — you know, your idiot nephew could run it," Buffett once said of his investment in Moody's, of which he knew nothing about the management. "And if you've got a really good business, it doesn't make any difference."
Buffett likes to invest in American companies. His largest holdings as of February included Wells Fargo, Apple, Bank of America and Coca-Cola. Buffett said last year that he believes America has the "secret sauce. "
"It doesn't work all the time perfectly," Buffett said, "but you just look at where we go, milestone after milestone. Never bet against America."