What is the reason why billionaire Warren Buffet sold a series of Apple shares?


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.

Billionaire Warren Buffett.

Billionaire Warren Buffett.

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 problems 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.

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