Reports this weekend revealed that Buffett sold half of Berkshire's stake in Apple. Buffett has previously signaled the sale was for tax reasons.
Key Points Shorting Apple before iPhone 16 launch could pay off if sales disappoint.
Shares of Apple (AAPL) took a hit after Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) revealed over the weekend that it reduced its stake in the company by nearly 50%.
Apple Inc (NASDAQ:AAPL) stock is down 3.8% to trade $211.56 at last glance, dragging the broader market lower.
This week isn't off to a good start for Apple (NASDAQ: AAPL ). Indeed, the tech sector titan is down 4% today on institutional investor news.
The iPhone maker joined mega-cap tech peers NvIdia, Alphabet, Tesla, Microsoft, Meta and Amazon in plunging as 6.5%.
Warren Buffett's recent decision to trim Berkshire Hathaway's BRK BRK stake in Apple Inc. AAPL has caused quite a stir, with the tech giant's stock tumbling in premarket as well as day trading.
Warren Buffett dumped Apple Inc. shares, reducing Berkshire Hathaway's exposure to less than 30% of its public equities portfolio. I have not assessed significant “extraordinary” adjustments to Apple's thesis that led to Buffett's stunning decision. Buffett could continue to unwind more positions of Apple, intensifying downward pressure on the stock.
Financial markets across the globe are going on a break, an undefined and unmeasured break. Warren Buffett released his quarterly holdings over the weekend.
With the S&P 500 tumbling this morning, many investors are probably asking “Why are stocks down today?” The selloff, which began on Thursday, appears to have been triggered by a variety of news items.
Monday's technology-led selloff is on track to deliver a more than $650 billion erasure of “Magnificent Seven” market capitalization.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.