Warren Buffett is not too anxious of a Transaction Warfare

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USA billionaire investor Warren Buffett said on Saturday that the world depends on the U.S. and China for progress, dismissing concerns that the two countries' trade tensions could potentially escalate into a trade war. The billionaire has praised Apple's decision to repurchase its own stock.

Buffett also praised Apple's penchant for developing "extremely sticky" products that were extremely successful with their customers, so much so that that users become strictly attached to gadgets such as iPhones, MacBooks and iPads.

"I'm delighted to see them repurchasing shares", Buffett told Berkshire shareholders at the conglomerate's annual meeting.

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Apple's share price hit a record high after Buffett revealed having boosted Berkshire's already large stake in the Cupertino, California-based company to roughly 240 million shares, now worth some $44 billion (2.95 lakh crores).

"It is an unbelievable company", Buffett said in an interview with CNBC.

At the end of the first quarter of 2018, Berkshire owned $40.7 billion of Apple's shares - up from $28.2 billion at the end of 2017, The New York Times reported.

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Even after the Apple investment, Berkshire's holdings of cash and equivalents was $108.6 billion (roughly Rs. 7.25 lakh crores), the company has said.

"We have a lot of common interests, and like any two big economic entities, there are times when there'll be tensions, but it is a win-win situation when the world trades", the investor said. As for the current flow of deals, he said his telephone hadn't been ringing off the hook.

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