Here's Why It's Time to Follow Warren Buffett and Sell Apple Stock
Apple (NASDAQ: AAPL) used to be an outsize position of Warren Buffett and his team at Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). Although it's still his largest by a decent margin, recent sales of the stock may have some investors questioning whether this will last for much longer. Berkshire has been dumping Apple stock quarter after quarter and now has less than half of its Apple shares remaining.
I think this is a genius move, and investors should follow suit as the stock has detached itself from the business's current performance.
There are several potential reasons for the sell-off, but we can assume Buffett doesn't need the cash. Investors will often sell stocks to raise capital to make other investments. However, Berskhire's cash and short-term investments total nearly $277 billion. With a cash hoard like that, he doesn't really need any more.
Source Fool.com
Apple Inc. Stock
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As a result the target price of 224 € shows a slightly positive potential of 12.08% compared to the current price of 199.86 € for Apple Inc..
