From late 2023 to early this year, billionaire Warren Buffett sold a lot of Apple shares.
According to statistics, famous investor - billionaire Warren Buffett continuously sold Apple shares earlier this year. Meanwhile, many analysts agree that iPhone demand is trending down.
In fact, Buffett is not a long-term investor in Apple – his company Berkshire Hathaway only started buying Apple shares in 2016, but the company has become an especially important shareholder.
Even Warren Buffett once taught both the late Apple CEO - Steve Jobs and the current Apple CEO - Tim Cook about the value of a company when buying back its own shares. "Apple House" did this again after the latest revenue report.
However, according to CNBC, Berkshire Hathaway's first quarter revenue report revealed that Berkshire's Apple stock investment position in the first quarter was $135.4 billion, down from $174.3 billion at the end of the year. 2023. It is estimated that the company sold about 115 million Apple shares in the first quarter, equivalent to 13% of Apple shares in the portfolio.
During the first quarter of 2024, analysts repeatedly downgraded Apple, especially due to falling iPhone demand in China.
Apple's revenue report on May 2, 2024 confirmed that iPhone sales decreased significantly in China but not by 25% as some forecasts. Notably, Apple's stock price increased sharply after the revenue report. It all rests on the company's resilience with its combination of hardware and software and the promise of upcoming AI features.
However, there are signs that Warren Buffett's strategy with Apple may not involve short-term issues with the stock. This could be part of the company's plan to move away from tech companies. The first quarter of 2024 was the second consecutive quarter that Berkshire Hathaway sold Apple shares.
In the fourth quarter of 2023, this investor sold all 10 million Apple shares. This was estimated to represent about 11% of the company's entire shares at the time.
This 90-year-old man is the chairman of investment company Berkshire Hathaway - the company whose stock code rose to a record high this year. On March 10, his net worth increased to over $100 billion for the first time.
Considered the world's most successful investor, Buffett has given away billions of dollars of his fortune to charity. Although Buffett has been at the top of the world wealth rankings for decades, his personal wealth has not reached $100 billion to date.
One of the reasons is his large charitable donations, more than $37 billion in Berkshire Hathaway shares since 2006.
Buffett is a co-founder of the Giving Pledge, a campaign that encourages billionaires to give to charity. Mackenzie Scott, the ex-wife of Amazon founder Jeff Bezos, also signed up for the pledge and gave away more than $4 billion of her fortune in just four months last year.
The fifth member of the exclusive group is LVMH's Bernard Arnault and his family. Facebook co-founder Mark Zuckerburg just slipped out of this exclusive ranks, according to Forbes' real-time list of billionaires.
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Buffett's net worth comes almost entirely from owning about one-sixth of Berkshire Hathaway, a company worth about $600 billion. The company's stock price has increased 15% this year, surpassing $400,000 per share. The investment firm has struggled in recent years to find deals to fuel growth.
The Omaha-based company is a major shareholder in Apple and other tech stocks that have seen their value skyrocket during the pandemic. Berkshire Hathaway was a failed textile company before Mr. Buffett took control in 1965. The company now owns more than 90 businesses.
