From Nasdaq:

Warren Buffett discussed his thoughts on artificial intelligence (AI) at Berkshire Hathaway’s shareholder meeting, expressing concerns about its impact on society despite his significant investment in AI companies. Buffett also declared Apple to be his favorite stock in Berkshire’s portfolio, emphasizing its dominance in the smartphone market and its strong brand.

Apple’s strong position in the smartphone market stems from the company’s ability to create a superior user experience. Despite numerous competitors, Apple’s market share remains high, and its phones are used longer than those of its rivals. Its strong brand and innovative technology have helped maintain its dominance.

Apple’s significant investment in AI, particularly in generative AI and chip design, positions the company at the forefront of AI development. Its widespread consumer platform will enable the integration of AI into its services business, benefiting the company as AI becomes more prevalent.

Despite trading near an all-time high, Apple may be poised for another round of growth fueled by AI applications. The company’s investment in AI, strong consumer platform, and continued innovation make it an attractive investment opportunity.

Consider investing using Stock Advisor, a service that offers guidance and stock picks from analysts. Although Apple isn’t among the top 10 stocks identified by the Stock Advisor team, it remains an appealing long-term investment option. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway.



Read more: This Is Warren Buffett’s Favorite Artificial Intelligence (AI) Stock. Here’s Why.