19 Feb

What Does Buffett Think about Apple?

WRITTEN BY Mark O'Hara

Buffett’s take on Apple

As noted previously, Berkshire Hathaway (BRK-B) sold some Apple (AAPL) stock in the fourth quarter. While Berkshire trimmed its stake in Apple by roughly 1% in the fourth quarter, it’s still the company’s biggest holding. Meanwhile, Buffett has reportedly nothing to do with trimming Berkshire’s stake in Apple. According to Reuters, quoting Debbie Bosanek, Buffett’s assistant, “One of the managers other than Warren had a position in Apple and sold part of it in order to make an unrelated purchase.” Bosanek also said, “None of the shares under Warren’s direction have ever been sold.”

What Does Buffett Think about Apple?

Optimistic

To be sure, Buffett has been quite optimistic about Apple. Last year, speaking with CNBC, Buffett said, “I’d love to own 100 percent of it.” Buffett has also supported Apple’s buyback program. However, Buffett’s optimism hasn’t really been reflected in Berkshire’s fourth-quarter buying activity.

Even Apple was conservative with buybacks in the fourth quarter. It repurchased 38 million shares for $8.2 billion, which is less than half the run rate the company had in the preceding two quarters. Apple also sounded positive in its outlook. During its first quarter of fiscal 2019 earnings release, Luca Maestri, Apple’s CFO said, “Our fundamental view remains the same. We are optimistic about our future. And we think there is great value in our stock.”

However, while both Apple and Buffett sound optimistic on the company, their fourth-quarter buying activity doesn’t really reflect their bullishness (QQQ) (SPY).

Read Apple and Warren Buffett Have Similar Issues for more information.

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