Apple Investors Urged to Stay Calm After Buffett Slashes Stake

Value of Berkshire stake in Apple stands at about $84 billion
Analysts say investors shouldn’t overreact to Buffett’s move

Berkshire’s portfolio reveal comes just days after Apple released its own quarterly results, which showed a return to revenue growth and signaled that new AI features will boost iPhone sales in the coming quarters.
Photographer: SeongJoon Cho/Bloomberg

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By Carmen Reinicke

August 4, 2024 at 11:34 AM EDT

This article is for subscribers only.

To some, Berkshire Hathaway Inc.’s gutting of its Apple Inc. stake could be interpreted as a lack of conviction in the iPhone maker’s growth story. But many on Wall Street are urging investors to look past the news and stay calm.

The Warren Buffett-led conglomerate revealed Saturday that it sold almost half of its position in the tech giant during the second quarter. Its stake now stands at roughly $84 billion, down from about $140 billion at the end of March. The selling took place during a torrid run in the stock market that sent Apple shares 23% higher and pushed the S&P 500 from one record to the next.