Selling Apple stock 'probably a mistake', admits Warren Buffett
What you need to know
- Warren Buffett sold off some of his Apple stocks last year.
- In a recent company meeting he has now admitted this was "probably a mistake".
Billionaire investor and Berkshire Hathaway chief Warren Buffett has admitted selling off some of his Apple stock last year was "probably a mistake."
At the 2021 Berkshire Hathaway Annual Shareholders meeting this weekend, Buffet spoke about the decision to sell off around $11 billion worth of Apple stock in the fourth quarter. From Business Insider:
The company is Apple's largest shareholder with a stake of around 5.4%, and Apple is by far the biggest holding in the BH portfolio, the report notes it has tripled its money on a 2016 investment of $35 billion. Despite the sell-off it still holds more than $100 billion, shares that will pay a reported $791 million in dividends this year according to estimates.
Not the only person to have underestimated Apple in recent months, Goldman Sachs recently admitted defeat on its 'sell' rating of Apple, upgrading its stock rating to 'neutral'. From that report:
Driven by the success of devices like the iPhone 12, Apple's best iPhone in recent memory, Apple's stock has grown by 86% since it was added to Goldman's Americas Sell List in April 2020
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9