Renowned investor Warren Buffet revealed that Berkshire Hathaway made a premature exit from a lucrative tech stock, Apple, after enjoying substantial gains. He outlined the firm’s strategy for reacquiring the asset in the future.
During a recent interview with CNBC Television, the billionaire investor admitted that he sold Apple’s stock too early, resulting in a remarkable $100 billion profit for his company. Despite this, Buffet expressed no regrets about his decision.
“I sold [Apple] too soon. But I bought it even sooner. I think we’ve made over $100 billion in that pretext. I don’t have any ability to predict what stocks will do next week or next month.”
“I will buy them if they are cheap, I’ll buy a whole lot of them if they are cheap and I think I understand the business, and Apple is still our largest single investment… It’s better than any business we own outright.”
Buffet also mentioned that Berkshire Hathaway, with over $373 billion in cash on hand, is open to increasing its stake in Apple if the price is right.
“I’m very happy for it to be our largest holding. I was not happy to have it be as large as almost everything else combined…It’s not impossible that Apple would get to a price where we would buy a lot of it. But not in this market, it’s just not going to happen in this market.”
In a surprising move, Buffet sold 67% of Berkshire Hathaway’s AAPL stake in 2024, with further sales in the following years. Reports indicate that AAPL accounts for 22.6% of the firm’s portfolio.
At the time of writing, AAPL is valued at $255.92.
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