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Berkshire: Buffett reduces shares in Apple (sold 1%)

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Berkshire: Buffett reduces shares in Apple (sold 1%)

In the fourth quarter of 2023, Buffett’s holding company, Berkshire Hathaway reduced its position in Cupertino giant Apple. Berkshire sold about 1% of its Apple shares, leaving it with a stake of 5,9% of the value of 167 billion dollars according to Dow Jones Market Data. The Apple stock remains below parity (-0.9%) in the pre-market while it has lost over 4% since the beginning of 2024. While just yesterday the stock of Buffett’s holding company, Berkshire Hathaway, updated its highs to $398 per share .

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Berkshire reduces positions in Apple

Previously, Buffett’s holding company’s position in Apple had grown to a huge portion of his stock portfolio. over 300 billion dollars. Buffett didn’t miss an opportunity to praise Apple at Berkshire’s annual meeting last year, saying that “Apple is the best business of any that we own.”

Despite the amazing rally that Apple shares have seen in 2023, in recent months the Cupertino company’s shares have not kept pace with those of some of its Big Tech competitors. The tech giant lost the top spot of the most capitalized company in the world by giving up the top spot to the tech giant Microsoft. Since the beginning of the year, Apple has faced a series of challenges including regulatory scrutiny of its App Store policies, declining sales in China and investor concerns about its growth prospects. Several analysts have downgraded the stock.

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Buffett also dumps HP stock

Buffett’s holding company also reduced its position in computer and printer maker HP while increasing its stakes in Chevron e Occidental Petroleum, also in the fourth quarter of 2023. The company had already announced that it would increase its stake in crude oil producer Occidental in the new year. Berkshire currently holds a 28% stake in Occidental, according to Dow Jones Market Data. Buffett praised the energy company’s CEO, Vicki Hollub, calling her “an extraordinary manager of Occidental.”

Berkshire revealed the latest moves yesterday in a document filed with the Securities and Exchange Commission (SEC). As a reminder, institutional investors managing at least $100 million in U.S. stocks and other types of stocks are required to disclose their positions at the end of each quarter.

Under the regulation investors have 45 days after the end of the quarter to file Form 13F documentation, which provides a dated look at portfolios. Many investors study Berkshire’s records to understand Warren Buffett’s market vision.

Expectations are rising more and more for Berkshire’s annual letter, which is expected to be published on February 24, together with the company’s full-year 2023 accounts. Among other things, this will be Buffett’s first letter to shareholders since the death of his right-hand man Charlie Munger.

Berkshire’s stock portfolio includes large positions in household names like Bank of America and Coca-Cola, along with Apple. He also owns a number of businesses including insurer Geico, BNSF Railway and See’s Candies.

One problem for observers analyzing Berkshire’s 13F filing is that the company requested confidential treatment from the SEC for one or more holdings that it had omitted from its public form. One reason investors may ask the SEC to keep a holding private is that disclosing it would reveal an ongoing plan to buy or sell a security.

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