Warren Buffett’s Berkshire Hathaway made headlines once again as the company sold a large chunk of Apple shares during the third quarter, reducing its stake by about 25%. Despite this sell-off, Berkshire still held roughly $69.9 billion worth of Apple shares at the end of September, making Apple its biggest position by far.
At Extreme Investor Network, we understand the significance of Warren Buffett’s moves in the market. While some investors may be concerned about Berkshire selling Apple shares, it’s important to note that this may not necessarily indicate a negative outlook on the company. In fact, Berkshire also sold down its Bank of America position and saw its cash pile top $300 billion.
Following Apple’s better-than-feared quarterly earnings release, which beat expectations on revenue and earnings per share, Wall Street analysts have had mixed feelings about the tech giant. Loop Capital lowered its Apple price target, while Morgan Stanley analysts highlighted decade-high operating margins and BofA research analysts pointed to global App Store revenue and download increases in October.
In the midst of these headlines, Jim Cramer advised investors to “own it, don’t trade it,” emphasizing the long-term approach to investing in Apple. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive trade alerts before Jim makes a move in his charitable trust’s portfolio.
At Extreme Investor Network, we aim to provide valuable insights and analysis on Warren Buffett’s investment strategies and market trends. Stay tuned for more exclusive content and expert advice to help you navigate the world of trading.