Warren Buffett, one of the most successful investors in history, has been selling Apple stock, reducing Berkshire Hathaway’s position from nearly 50% to less than 23%. However, fellow billionaire Israel Englander has taken a different approach, increasing his Millennium Management fund’s stake by 68% to over 12.8 million shares.
The reason behind Buffett’s sales is unclear, but experts believe it may be due to concerns about the stock’s valuation or cash management. Meanwhile, Englander has shown confidence in Apple’s future growth, citing its strong top management and loyalty generation capabilities.
Despite Buffett’s large sale, Apple stock has still managed to rise 17% year-to-date, with more buyers than sellers contributing to this trend. The company continues to dominate the smartphone industry with 52% market share, and its investments in artificial intelligence are expected to benefit it further.
Buffett has praised Apple for its business model, which allows customers to use a range of products seamlessly. With Berkshire Hathaway owning only 2% of outstanding shares, many more investors have been buying Apple stock, such as Englander, indicating that Buffett’s views on the company remain positive.
Source: https://finance.yahoo.com/news/warren-buffett-selling-apple-stock-081500516.html