Warren Buffett Just Sold a Huge Chunk of Apple Stock. Should You Do the Same?
Apple (NASDAQ: AAPL) is one of Warren Buffett's favorite stocks; there's no secret about that. He has previously referred to it as "probably the best business I know in the world." And within Berkshire Hathaway's portfolio, it normally accounts for a considerable percentage of the stock holdings. It's still in the top spot today, but the percentage has dropped significantly after Buffett recently sold a big chunk of Apple stock.
Is this a bad omen for the highly valued stock, that perhaps its valuation is too high? And could it be a sign that Buffett is worried about future economic conditions? Here's a closer look at what it may mean for investors, and whether you should consider following suit to sell shares of Apple as well.
Earlier this month, investors learned through a filing that Berkshire has reduced its stake in Apple stock -- by nearly 50%. It's a massive stock sale, and it comes after a sale in the first quarter where the holdings were reduced by 13%. This sale is on a much larger scale, and thus, is much more noteworthy for investors. It is typical for investors to sell a few shares of a highly successful investment and take some of the profit. But such a mammoth reduction has investors wondering about the reason behind the move.
Source Fool.com
Apple Inc. Stock
Currently there is a rather positive sentiment for Apple Inc. with 148 Buy predictions and 17 Sell predictions.
With a target price of 227 € there is a slightly positive potential of 9.61% for Apple Inc. compared to the current price of 207.1 €.
