Warren Buffett's Berkshire Hathaway will make about $700 million a year from its Apple holdings just by collecting dividends.

The Oracle of Omaha revealed to CNBC that Berkshire bought an astounding 75 million shares of Apple during the first quarter. That adds to the 165.3 million shares Berkshire already owned at the end of 2017.

Apple "is an unbelievable company," Buffett said in a "Squawk Box" interview that aired Friday. "If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States."