Berkshire Hathaway Inc (BRK.B)

[gfp927z]

One thing people seem to overlook with Apple is the most obvious factor - that Steve Jobs is gone, the visionary who built the company and steered it to its phenomenal success. Another factor is that for the average consumer, a $79 LG phone will do basically everything a $1000 Apple iPhone will do.

I guess many people get the iPhone for its prestige value, and since the exorbitant cost of the phone can be wrapped into the monthly cell phone bill, you're not shelling out $1000 in one lump sum.

Buffett obviously likes the 'brand' and 'platform' aspects of Apple, but having such a huge position in one company seems risky.