It’s no secret that Apple is sitting on a lot of cash. In fact, Apple has so much it didn’t know what to do with it at one point.
Appearing on CNBC this morning, Warren Buffett told a short anecdote about Steve Jobs reaching out to him for investment advice two years ago. “We’ve got all this cash,” said Jobs. “Warren, what should we do with it?”
Buffett said he suggested repurchasing some Apple stock, which, at the time was trading at around $200, a figure Jobs admitted was a bit low. However, Jobs didn’t take Buffett’s advice. Now, the stock trades at $522 per share. Even the best make mistakes.
Buffett then went onto say, “I’ve never bought Apple, but I wish I had.”
[via Business Insider]