Warren Buffet’s decision to sell 12% of Berkshire Hathaway’s Apple holdings last year has cost him $18 billion, a new report says.
As we reported earlier today, Apple’s stock closed Wednesday at an all-time high of $144 Wednesday. As Business Insider notes, this means that Buffet and BH’s Apple holding is now worth $128 billion. It could have been more had Buffett not sold 12% of his Apple shares last year:
Warren Buffett’s Apple bet jumped in value to $128 billion on Wednesday, thanks to the iPhone maker’s stock price closing at a record high. The investor has more than tripled his money on Apple in the past three years- but he would have quadrupled it if he didn’t sell a chunk of the holding.
Buffett’s Berkshire Hathaway conglomerate spent $36 billion between 2016 and mid-2018 to amass the equivalent of 1 billion Apple shares, which would be worth $146 billion today. However, Buffett has cashed in about 12% of that stake in recent years.
Buffett has previously admitted that selling his Apple stock was ‘probably a mistake’ at a BH shareholders meeting last year:
“I sold some stock last year,” the famed investor said at Berkshire Hathaway’s annual meeting on Saturday. “That was probably a mistake.”
Buffett’s remaining holdings sit at $128 billion, shares that will pay out $791 million in dividends this year.
Apple will announce its Q3 earnings at a call on July 27, where it is expected to present strong year on year growth.
England reached the Euro 2020 final but Apple TV users didn’t see it happen
Yesterday saw England reach the final of Euro 2020 and while many were cheering along in front of their TVs, others were left exasperated after an ITV Hub technical issue meant they couldn’t watch the action. Chunks of the second half were missed by those watching on Apple TV boxes — and they were not happy about it.
