Baron’s senior writer Al Root discusses Tesla’s market performance and the automaker’s strategy for electric vehicles.
Elon Musk appeared to give investment advice to Berkshire Hathaway CEO Warren Buffett on Sunday, telling him to buy Tesla stock.
“He should get a position at Tesla,” Musk said in a post on X. “It’s an obvious move.”
The Tesla CEO’s comments came in response to another user’s post urging Buffett to exit his Apple stock over the years.
Tesla CEO Elon Musk gestures and speaks during a press conference before unveiling the Model X sport utility vehicle at an event in Fremont, California on September 29, 2015. ((David Paul Morris/Bloomberg via Getty Images)/Getty Images)
Berkshire Hathaway has owned Apple stock since 2016.
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The conglomerate’s investments in the tech giant were worth about $135.4 billion at the end of March, down about 22% from $174.3 billion at the end of last year.
Berkshire’s investment in Apple was valued at about $135.4 billion at the end of March. (Daniel Zushnik/WireImages/Getty Images)
Buffett acknowledged Saturday that Berkshire had sold some of its Apple shares, but said his stance on the tech giant had not changed.
“I think it’s very likely that at the end of the year Apple will be the largest common stock that we own,” he said.
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Berkshire announced in its first quarter earnings report that five companies accounted for approximately 75% of the fair value of its total stock investments. In addition to Apple, they were American Express, Bank of America, Coca-Cola Company, and Chevron.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 181.14 | +1.13 | +0.63% |
Mr. Musk has been promoting Tesla and its efforts in recent weeks.
The Tesla corporate logo is displayed on the front of a Tesla store in Santa Monica, Los Angeles, California on April 10, 2023. ((Photo by Gary Hershorn/Getty Images)/Getty Images)
When the EV maker reported first-quarter results in April, the company said, “We are currently in the midst of two major waves of growth. The first wave began with the global expansion of the Model 3/Y platform; I think this will be the next wave.” It began with advances in autonomy and the introduction of new products, including products built on our next-generation vehicle platform. ”
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The company is working on lower-priced and other new Tesla vehicle options, which it says will be available next year. An event focusing on robotaxi efforts is also planned for August.
FOX Business’ Eric Revell contributed to this report.
