Buffett Hails Abel, Touts $185B Apple Gain as AAPL Surges 3.2% to $280

Warren Buffett at Berkshire Hathaway's May 2, 2026 annual meeting praised successor Greg Abel's leadership while highlighting $185 billion pretax gains from a $35 billion Apple investment made 2016-2018, with the stake trimmed over 75% to 228 million shares worth $65 billion. Earlier opening remarks lauded departing CEO Tim Cook for growing Apple's market value from $350 billion to $4.1 trillion, calling him the 'legend's successor' and asking him to 'take a bow.' The endorsements, tying Apple's success to Berkshire's transition, boosted AAPL shares 3.2% to $280.14 amid Cook's April retirement announcement.