Warren Buffett continued to sell down his Apple stake, cutting about a quarter in the third period

Published On Nov 2, 2024, 8:38 AM

Berkshire Hathaway reported its Q3 2024 earnings, revealing that Warren Buffett has significantly reduced the company's stake in Apple, selling about 25% of the holding and reducing overall ownership by 67.2% since last year. As of September's end, Berkshire held approximately $69.9 billion in Apple shares. Buffett has been selling shares for several quarters, possibly due to high valuations, diversification needs, and potential capital gains tax increases. The company's cash reserves hit an all-time high of $325.2 billion, and Berkshire's stock has outperformed the S&P 500 this year.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

BRK.B

Positive

With Buffett's tapering of Apple holdings, investors might see this as a cautionary sign regarding the stock's future growth potential and could react negatively to further divestments. However, Berkshire's strong cash position suggests opportunities for future investments that could lead to positive growth for the company's stock.

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AAPL

Negative

Investors might also interpret the continued selling of Apple's shares as a sign that the tech giant may not yield the same returns moving forward, especially as its stock has lagged behind the broader market this year. Therefore, a cautious approach towards Apple's stock could be prudent.

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