The concentration comes as Greg Abel leads Berkshire after becoming chief executive at the start of 2026. The Omaha-based company has traditionally favored businesses such as consumer staples, energy and financial services, whose revenue and earnings can be easier to project over long periods.
Apple remains Berkshire’s largest stock holding despite substantial reductions in the position in recent years. Berkshire first bought shares in the iPhone maker in the first quarter of 2016. Apple’s shares have risen more than 1,000% over the past decade, according to the analysis.
The investment case described for Apple centers on its established reach among consumers. On the company’s first-quarter 2026 earnings call, then-chief executive Tim Cook said its worldwide installed base had surpassed 2.5 billion active devices, a record. That hardware provides an existing channel through which customers can use AI features.
The iPhone generated $54.3 billion in sales in the quarter ended June 27, an increase of 21.7% from a year earlier. The product line represented 49.6% of Apple’s total revenue for the period.
Apple has also launched Siri AI with new capabilities as part of Apple Intelligence, its suite of AI features integrated into widely used applications. The analysis argues that this combination of devices and software could position the company to benefit as consumers use AI tools more frequently.
Berkshire disclosed its initial Alphabet investment in the third quarter of 2025 and has since increased the holding. Alphabet’s Class A and Class C shares together now represent 10% of the portfolio. The company owns Google Search and YouTube alongside its other technology businesses.
Alphabet shares had gained 37% over the preceding 12 months while remaining 14% below their mid-May peak. The analysis put its forward price-to-earnings ratio at 22.4, compared with 34.6 for Apple.
Alphabet’s AI operations span the Google DeepMind research organization, internally designed Tensor Processing Units and the Gemini family of models. Google Cloud also supplies computing resources to enterprise customers. Its revenue rose 82% in the second quarter ended June 30 compared with the same period in 2025.
The company is integrating AI into applications used by billions of people and into services for advertisers. Berkshire’s investment has grown during a period of elevated capital spending at Alphabet, giving the conglomerate exposure to both the infrastructure supporting AI and the products that deliver it to users.