Warren Buffett added $600 million to his Apple stock holdings.

Buffett, the chairman, and CEO of Berkshire Hathaway, told CNBC’s Becky Quick that he bought $600 million worth of Apple stock following a three-day drop in the stock last quarter.

With a market value of $159.1 billion at the end of March, Apple is the conglomerate’s single largest stock holding.

During Apple’s sell-off in the first quarter, Warren Buffett bought the dip in his No. 1 stock. Following a three-day decline in the stock last quarter, Berkshire Hathaway’s chairman and CEO told CNBC’s Becky Quick that he bought $600 million worth of Apple shares.

With a market value of $159.1 billion at the end of March, Apple is the conglomerate’s single largest stock holding, accounting for roughly 40% of its equity portfolio.

“Unfortunately, the stock rose again, so I decided to call it a day. Who knows how much we would have spent if we hadn’t done so? “After Berkshire’s annual shareholder’s meeting on Sunday, the 91-year-old investor told Quick.

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Buffett has had a lot of buying opportunities this year as Apple shares have been under pressure due to concerns about rising interest rates and supply chain constraints. During the first quarter, the stock dropped 1.7 percent, with multiple three-day losing streaks. In January, Apple’s stock fell for eight days in a row, and the stock is now down nearly 10% in the second quarter.

Buffett’s investing deputies, Todd Combs and Ted Weschler, influenced Berkshire to start buying Apple stock in 2016. Outside of index and exchange-traded fund providers, Berkshire is now Apple’s largest shareholder.

Thanks to its CEO, Buffett previously referred to Apple as one of his conglomerate’s four “giants” and the second-most important after Berkshire’s cluster of insurers.

“Tim Cook, Apple’s brilliant CEO, quite rightly regards users of Apple products as his first love, but Tim’s managerial touch benefits all of Tim’s other constituencies as well,” Buffett wrote in his 2021 annual letter.

Cook’s stock repurchase strategy, according to the “Oracle of Omaha,” gives the conglomerate increased ownership of each dollar of the iPhone maker’s earnings without the investor having to lift a finger.

Apple announced last week that it had authorized $90 billion in share repurchases, keeping its lead as the public company that spends the most on its own stock. In 2021, it spent $88.3 billion on buybacks.

Over the weekend, Cook was in attendance at Berkshire’s annual meeting.

Over the years, the conglomerate has received regular dividends from the tech giant, averaging around $775 million per year.

During Apple’s sell-off in the first quarter, Warren Buffett bought the dip in his No. 1 stock. Following a three-day decline in the stock last quarter, Berkshire Hathaway’s chairman and CEO told CNBC’s Becky Quick that he bought $600 million worth of Apple shares. With a market value of $159.1 billion at the end of March, Apple is the conglomerate’s single largest stock holding, accounting for roughly 40% of its equity portfolio.

“Unfortunately, the stock rose again, so I had to stop.” “Who knows how much we would have bought if we hadn’t bought,” the 91-year-old investor told Quick after Berkshire’s annual shareholder’s meeting on Sunday.