Warren Buffett's sale of 510 million Apple shares will go down as one of the best bets of his career

Warren Buffett's sale of 510 million Apple shares will go down as one of the Best Bets of his career follow buzztone times because we keep you informed starting in q1 of 2024 Warren Buffett epically downsized his immense Holdings of Apple stock in one of the best publicized sell-offs by any famous investor in recent memory in the past two quarters the Oracle of Omaha's birkshire Hathaway has sold roughly 510 million of the iPhone maker shares lightening its Holdings by around 56% the size and suddenness of the exit stirred speculation that Buffett's optimism for Apple stock had faded following the Fantastic run over the past seven years a surge that Buffett timed and rode to near Perfection it's important to note that Apple remains berkshire's biggest Equity holding making up 41% of the conglomerates portfolio at the annual meeting in May Buffett's admiration for Apple appeared undimmed he declared that two of his longtime prized Investments Coca-Cola and American Express were wonderful businesses but he lauded Apple was an even better one Buffett isn't saying why he shed such a large portion of his Apple stake and we simply don't know whether going forward he'll maintain a giant position in what's still the world's most valuable Enterprise what's clear is that overall he's taking a far more defensive position in a pricey Market Burkshire sold 90 billion in stocks in the first half of 2024 the Apple dump accounting for the vast bulk of the proceeds that downshift raised berkshire's cash Holdings from the previous record of $189 billion at the close of q1 to $278 billion as disclosed in its 10 Q Burkshire further swelled its War chest in July by selling around $4 billion in shares of Bank of America in recent years its second largest holding and a stock that like apple Buffett bought on the cheap that's proven a fabulously profitable bet Buffett has now amassed new loads of extra cash for channeling into beat down choices that look as enticing as apple or Bank of America did years ago it's hard to find a better case of selling High than Buffett's Apple Gambit examining the trajectory of the Colossus of cupertino's profit and valuation numbers it's clear that the shares have run from a screaming bargain PE of 16 when Buffett bought them to Dangerously expensive PE of 32 by the time he began taking profits in a big way Apple stock price has reached such a dizzying summit that the current shareholders or folks in funds who buy now stand little chance of reaping double- digigit returns in the years ahead and the currently super elevated valuation means that a major correction is far more likely now than say just before the pandemic's outbreak when Apple fetched onethird today's price however it's interesting that Buffett missed the top tick on Apple shares they ended Q2 at $211 the close of birkar selling period before ramping up 12% to a record $235 on July 16th since then Apple's been caught in the Maelstrom that's roing the Magnificent 7 a battering that as of August 8th sent shares back to $211 where it started the quarter news of the Burkshire unloading 3 days earlier was a big contributor to Apple's fall fall but the American champion is the victim not of poor performance but of overheated expectations and excessive enthusiasm from the markets Buffett saw in 2016 that the outlook on Apple was far too D and made one of the great Wagers of his career it made eminent sense to harvest much of those fabulous gains and soften the hit if as is likely Apple's fans are expecting far far too much this is buzztone time stay with us for more stories