Warren Buffett Is Selling Apple Stock and Buying This Magnificent Megacap Stock Instead

Warren Buffett is considered one of the greatest investors in American history due to his track record with Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). Specifically, Berkshire stock has compounded at roughly 19.8% annually since Buffett took control of the company in 1965, nearly doubling the performance of the S&P 500.In recent years, one of the most widely discussed aspects of his business has been its sizable stake in Apple (NASDAQ: AAPL). Berkshire began buying shares in 2016. Whether the original purchase was made by Buffett or his understudies is unknown, but Buffett likely controlled the position as it grew in size over the years, and he is likely responsible for trimming the position in recent quarters.In May 2023, Buffett said, "Apple is different than the other businesses we own. It just happens to be a better business." That statement is seemingly at odds with the recent selling spree. CNBC estimates that Berkshire's stake in Apple declined to 400 million shares in June 2024, a 55% reduction from 905 million shares in December 2023.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool