Warren Buffett acknowledged that he sold Apple shares too early but remains optimistic about the tech giant, expressing a willingness to buy more if prices drop further. In a recent CNBC interview, he confirmed that Apple is still Berkshire Hathaway’s largest holding, valued at $61.96 billion, despite a recent reduction in stake. Buffett noted that the current market conditions, marked by a correction in both the Dow Jones and Nasdaq, make Apple less attractive at this time, even with its recent 14% decline from peak levels.
Buffett’s remarks highlight the cautious sentiment among investors as market volatility persists. His confidence in Tim Cook’s leadership and the substantial profits Berkshire has realized from Apple—over $100 billion pretax—reinforces the stock’s significance in the portfolio.
The key takeaway for market professionals is that while Buffett sees potential in Apple, he is waiting for a more favorable entry point, reflecting a broader strategy of patience in uncertain market conditions.
Source: cnbc.com