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WARREN BUFFETT’S BERKSHIRE HATHAWAY CUT APPLE INVESTMENT BY ABOUT 13% IN THE
FIRST QUARTER

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tháng 5 04, 2024

 

WATCH NOW
VIDEO05:13
Warren Buffett cuts Berkshire’s stake in Apple by 13% as iPhone sales slump


OMAHA, Nebraska — Warren Buffett’s Berkshire Hathaway cut its
gigantic Apple stake in the first quarter as the “Oracle of Omaha” continued to
downsize his one-time favorite bet.

In its first-quarter earnings report, Berkshire Hathaway reported that its Apple
bet was worth $135.4 billion, implying around 790 million shares. That would
mark a decline of around 13% in the stake. Apple was still Berkshire’s biggest
holding by far at the end of the quarter.

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual
Shareholders Meeting in Omaha, Nebraska on May 3, 2024. 
David A. Grogen | CNBC

This is the second quarter in a row that the Omaha-based conglomerate has
trimmed the stake in the iPhone maker. It sold about 10 million Apple shares
(just 1% of its massive stake) in the fourth quarter. This filing, when
accounting for the change in Apple’s stock price, would imply Berkshire sold
about 116 million shares.

Buffett became a big fan of Apple after one of his investing managers Ted
Weschler or Todd Combs convinced him to buy the stock years ago. Buffett even
called the tech giant his second-most important business after Berkshire’s
cluster of insurers.

Apple Inc
RT Quote | Last NYSE Arca, VOL From CTA | USD
After Hours: Last | 05/03/24 EDT
183.78+0.40 (+0.22%)
183.38+10.35 (+5.98%)
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Apple

Many has speculated that the 93-year-old investing icon reduced his favorite
stake due to valuation concerns. Apple’s stock gained a whopping 48% in 2023 as
megacap tech shares led the market rally. At its peak, Apple ballooned in
Berkshire’s equity portfolio, taking up 50% of it. The shares are trading at
more than 27 times forward earnings.

Shares of the iPhone maker got a big boost in the past week after the firm
announced that its board had authorized $110 billion in share repurchases, the
largest in company history. However, Apple posted a decline in overall sales and
in iPhone sales. The shares are down more than 4% so far this year amid concerns
about how it will revive growth.

It’s not without precedent that the Berkshire CEO would adjust the Apple bet. He
sold a bit of the stock in the fourth quarter of 2020, but Buffett admitted then
that it was “probably a mistake.” Also it’s not usual for Buffett to trim a
position that has grown so large.

Even with the sale, Berkshire is still Apple’s largest shareholder outside of
exchange-traded fund providers.


MORE FROM BERKSHIRE HATHAWAY’S ANNUAL MEETING

 * Watch Live: 2024 Berkshire Hathaway Annual Shareholders Meeting
 * Follow Warren Buffett’s commentary at Berkshire Hathaway’s annual meeting:
   Live updates
 * Berkshire Hathaway operating earnings soar 39% as Buffett’s cash hoard swells
   to record $188 billion
 * Warren Buffett’s Berkshire Hathaway cut Apple investment by about 13% in the
   first quarter
 * Warren Buffett shopping extravaganza kicks off with Squishmallows pit

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SMARTPHONE GIANTS LIKE SAMSUNG ARE GOING TO TALK UP ‘AI PHONES’ THIS YEAR —
HERE’S WHAT THAT MEANS

tháng 2 25, 2024
  Samsung Electronics Co. Galaxy S24 smartphones during a media preview event in
Seoul, South Korea, on Monday, Jan. 15, 2024. Samsung, the world’s most prolific
smartphone maker, is leaning into artificial intelligence as the key to
unlocking greater sales this year. Photographer: SeongJoon Cho/Bloomberg via
Getty Images SeongJoon Cho | Bloomberg | Getty Images Artificial intelligence
phones: these are the buzzwords you’ll likely hear this year, as smartphone
players look to jump on the AI hype to boost sales of their devices after a
difficult stretch of time. OpenAI’s ChatGPT, released in late 2022, sparked huge
interest in generative AI, specifically — models trained on huge amounts of data
that are able to produce text, images and prompts from user videos. Since then,
AI excitement has touched every industry and entered the popular imagination.
Smartphone makers see a chance to cash in and are going to be touting the tech
at the Mobile World Congress (MWC), the biggest mobile indus
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TRUMP WILL QUIT NATO, HILLARY CLINTON SAYS, AS ANXIETY MOUNTS OVER U.S.
COMMITMENT TO THE ALLIANCE

tháng 2 18, 2024
  Former U.S. President and current GOP Presidential candidate Donald Trump
addresses the press at Mar-a-Lago on February 16, 2024, in West Palm Beach,
Florida. Joe Raedle | Getty Images News | Getty Images MUNICH, Germany — NATO
members on Saturday weighed the U.S.′ possible withdrawal from the military
alliance if Donald Trump returns to the White House, with Hillary Clinton saying
he would waste no time in quitting if re-elected. Clinton urged delegates at the
Munich Security Conference to take her one-time presidential rival’s tough talk
“literally and seriously” as anxiety mounts over the future of the U.S.-led
pact. “He will pull us out of NATO,” Clinton told attendees during a lunchtime
session. Trump stoked fresh concerns over the U.S.′ commitment to NATO last
weekend when he said he would  “encourage”  Russia to attack any member that
doesn’t meet its spending targets. He has long criticized the alliance’s failure
to ensure members make good on their obligation to contribute 2
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A CHANGE TO THIS ONE CLAUSE COULD BE THE MOST IMPORTANT PART OF THE FED MEETING

tháng 1 30, 2024
  U.S. Federal Reserve Chair Jerome Powell attends a press conference in
Washington, D.C., on Dec. 13, 2023. Liu Jie | Xinhua News Agency | Getty Images
Immediately after the Federal Reserve wraps up its meeting this week, all eyes
are likely to gravitate to one small piece of wording that could unlock the
future of monetary policy. In its post-meeting statement, the central bank is
expected give an important hint about interest rate moves to come by removing a
clause from previous statements that reads: “In determining the extent of any
additional policy firming that may be appropriate to return inflation to 2
percent over time,” followed by an outlining of conditions it assesses. For the
past year-plus, the wording has underlined the Fed’s willingness to keep raising
interest rates until it reaches its inflation goal. Remove that clause and it
opens the door to potential rate cuts ahead; keep it and policymakers will be
sending a signal that they’re not sure what’s to come. The diffe
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