Buffet Says Selling Apple Shares is a Mistake

  Buffet Says Selling Apple Shares is a Mistake Buffett turned to Charlie Munger, his longtime business partner and friend, Warren Buffett said it was a mistake to sell some shares of Apple ( AAPL (NasdaqGS) $133.81 +2.35(+1.79%) in Berkshire Hathaway's portfolio last year. Subsequently, the company remained a technology leader, benefiting users all over the world. Speaking at Berkshire Hathaway's annual shareholders meeting on Saturday, the famous value investor said of Apple: "The brand and the product are truly incredible. They play a huge role in people's lives. Probably, I am the only person in the country who only uses it as a phone. But It is indispensable for other people. Last year I sold some shares. Although our shareholders saw their stock still rise as we bought back the stock, that was probably a mistake. " Buffett turned to Charlie Munger, his longtime business partner and friend, "Charlie just as always told me he thought it was a mistake, right Charlie?" said. Berkshire owned 907,559,761 Apple shares as of the end of December, with a total market capitalization of $ 120.4 billion. These shares made Berkshire 5.4 % of the firm. By contrast, the firm has spent just $ 31 billion to accumulate that share since the end of 2016.

Buffett turned to Charlie Munger, his longtime business partner and friend,

This holding, which accounted for 44 % of its assets announced at the end of last year, was the largest market capitalization in the Berkshire portfolio, according to Bloomberg data. Buffet made the following remarks about Apple's CEO Tim Cook: “Steve Jobs clearly could not do what he was able to do in terms of creation. On the other hand, I think Tim Cook could do many jobs that Steve Jobs could not do. I want to emphasize that Tim has a different style. He did some things very well. " Buffett delivered a presentation at the start of the 2021 Berkshire Hathaway shareholder meeting, describing the world's 20 most valuable companies by market value, as an example of America's power in creating high-value companies. Apple topped the list with a valuation in excess of $ 2 trillion. Apple shares increased by 81 % in 2020; Outperformed other mega-cap tech stocks such as Amazon (AMZN), Alphabet (GOOGL), and Facebook (FB).  

Source: Yahoo.Finance

 

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