Warren Buffett, the billionaire investor who has spent three decades at the helm of Berkshire Hathaway, passed along some friendly investment advice to Apple today.
The Oracle of Omaha thinks Apple is poised for growth in the future and, as a result, he believes Apple should consider purchasing more shares of its own stock.
On Monday morning, Buffett appeared on CNBC’s “Squawk Box” and encouraged Apple to invest some of its mega cash in reserve to acquired shares of Apple at current bargain prices.
“If you could buy dollar bills for 80 cents, it’s a very good thing to do,” Buffett explained.
Buffett who admits to speaking with Steve Jobs shortly before his death to discuss financial management, tells current Apple CEO Tim Cook to remain focused on running a good company while investing in its growth.
“When that happens [a depression in stock value], if you’ve got money, you buy it,” Buffett advises Apple. “You just keep working on building the value.”
Buffett, CNBC noted, does not presently own any shares of AAPL.