Warren Buffett Just Reaffirmed Apple as One of His Favorite Stocks -- Even as Tim Cook Prepares to Step Down

The article says Warren Buffett publicly reaffirmed Apple as one of his favorite businesses despite the upcoming leadership transition from Tim Cook to John Ternus on Sept. 1, with Cook moving to executive chairman. The piece argues Berkshire Hathaway’s unchanged, $70+ billion Apple stake signals confidence in Apple’s business durability rather than any short-term trading move. It highlights Apple’s strong fiscal Q2 results: revenue rose 17% year over year to $111.2 billion, EPS increased 22% to $2.01, iPhone revenue hit $57 billion, and services revenue reached about $31 billion. Apple’s stock is near a record high around $328 and trades near 40 times earnings, well above the market, but the author still views the premium as justified by accelerating growth, high-margin services, and AI upside. Market impact is mostly supportive for AAPL sentiment, though valuation remains a key concern.