Elon Musk says Warren Buffett should buy Tesla shares
Elon Musk on Sunday seemingly offered some investment advice to Berkshire Hathaway CEO Warren Buffett, saying he should purchase a stake in Tesla.
"He should take a position in Tesla," Musk said in a post on his social media platform X. "It’s an obvious move."
The Tesla CEO's remarks came in response to another user's post that urged the longtime Buffett to exit his stake in Apple.
Berkshire Hathaway has owned Apple shares since 2016.
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The conglomerate’s investment in the tech giant was worth roughly $135.4 billion at the end of March, down about 22% from $174.3 billion at the end of last year.
Buffett acknowledged on Saturday that Berkshire offloaded some Apple shares but said his stance on the tech giant hasn’t changed.
"At the end of the year, I would think it extremely likely that Apple is the largest common stock holding we have," he said.
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Berkshire said in its first-quarter earnings report that five companies accounted for about 75% of the fair value of its total equity investments. Those were American Express, Bank of America, Coca-Cola Company and Chevron, along with Apple.
Musk has touted Tesla and its efforts in recent weeks.
In April, as the EV maker reported its first-quarter results, the company said it was "currently between two major growth waves: the first one began with the global expansion of the Model 3/Y platform and we believe the next one will be initiated by advances in autonomy and introduction of new products, including those built on our next generation vehicle platform."
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The company is working on lower-cost and other new Tesla vehicle options that it said will come out next year. It also has an event focused on its robotaxi initiative scheduled for August.
FOX Business' Eric Revell contributed to this report.