Warren Buffett Just Trimmed His Apple Stock. Should You?
Surprising news has just come out of Omaha, Nebraska. Warren Buffett sold half of Berkshire Hathaway's monster stake in (NASDAQ: AAPL), adding tens of billions of dollars to the company's cash heap. At the end of last quarter, Berkshire Hathaway had $277 billion in cash and equivalents, giving it one of -- if not the -- world's largest cash reserves for an individual company.
Berkshire's Apple investment was worth $84 billion at the end of the second quarter, down from $150 billion a few years ago. What is Buffett planning to do with Berkshire's cash? Why has he soured on Apple? And should you do the same for your portfolio? Let's take a closer look and find out.
Apple reported earnings on Aug. 1 for the second calendar quarter of 2024. Its results have looked similar for the last few quarters. Hardware revenue has stagnated, with iPhone, iPad, and Wearables revenue all down in the first nine months of this Apple fiscal year versus the prior year. The only bright spot was the Mac, but that was a slight increase in sales.
Source Fool.com
Apple Inc. Stock
Our community is currently high on Apple Inc. with 102 Buy predictions and 9 Sell predictions.
As a result the target price of 212 € shows a slightly positive potential of 6.73% compared to the current price of 198.64 € for Apple Inc..
