Meme of the Day | Even the 'Oracle' Misses? Buffett's Massive Apple Dump May Result in a $23 Billion Loss
1min read Berkshire Hathaway significantly reduced its Apple stake by 55% in H1 2024, potentially missing out on substantial profits as Apple's stock neared record highs.
Despite this, the conglomerate's remaining Apple shares would have been worth around $210 billion at current prices, up from the $174 billion initially held, indicating a substantial paper gain.
However, Berkshire Hathaway's actual current stake value stood at $84 billion as of Q2's end, suggesting significant sales around an average price of $186.15 per share, leading to an estimated $23 billion in unrealized gains calculated by Business Insider.
This move doesn't necessarily imply a negative view on Apple, as Berkshire's initial investment has yielded an impressive return, with an estimated average buy price of $39.59 per share, seeing a 485% increase since 2016.