What you need to know
- Billionaire investor Charlie Munger has hailed Apple's "ungodly" levels of good management.
- He said Apple was and would remain a strong company for investors.
- He said the love Apple's customers have for its products was a "hugely powerful position to be in."
Billionaire investor and Berkshire Hathaway vice chair Charlie Munger has hailed Apple's "ungodly" levels of good management and the love its customers have for its products.
Munger made the revelation in an interview with Yahoo Finance in which he stated "I think Apple is one of the strong companies and will stay a strong company... I think it's ungodly well-managed."
Munger went on to say that he judged the strength of a company "based on how much the customers love it" and said that he had said "zillions of friends who they'd almost part with their right arm before they'd part with their iPhone. That's a hugely powerful position to be in."
Berkshire Hathaway has reaped the benefits of Apple's strong share performance in recent years as one of the company's largest shareholders. Warren Buffet said the group probably made $50 billion from Apple stock in 2020 and the company represents around half of its portfolio.
Apple's relationship with shareholders isn't always been plain sailing, however. This week a shareholder advisory group said that it had significant concerns about the level of compensation Tim Cook receives and some of the perks he enjoys such as the use of a private jet and security. Cook received a salary of $3 million, a $12 million bonus, and an $82 million stock award in 2021.
The company's share price has grown by 1,000 percent under his leadership thanks to a string of smash hit products including its iPhone 12 and iPhone 13, its best iPhones in recent memory.
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