Given the News Out of WWDC, Was Warren Buffett Right to Sell Apple Stock?
Apple stock is up 50% since Berkshire Hathaway started unloading shares in mid-2023.
Given the News Out of WWDC, Was Warren Buffett Right to Sell Apple Stock?
Overview
Apple (NASDAQ: AAPL) has long been the biggest name in the Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) portfolio. Berkshire's now-retired leader, Warren Buffett, often spoke glowingly about Apple and its ecosystem, calling it an "extraordinary consumer franchise" with massive brand loyalty. In 2020, he went even further, calling Apple "probably the best business I know in the world."
But Buffett spent the last few years of his time as Berkshire Hathaway's CEO divesting the conglomerate of Apple. In mid-2023, Berkshire had 914,560,382 shares of Apple stock. At the time, it was trading at $193.97 per share, and Berkshire's total Apple stock holding was valued at $177.39 billion.
Details
Today, Berkshire Hathaway has 227,917,808 shares, with a total market capitalization of $66.35 billion. It's still a sizable stake, accounting for 20% of Berkshire's portfolio, but that's a long way from the roughly 50% weighting it used to have.
Source
Originally published at www.fool.com.
