Warren Buffet is arguably one of the most popular investors in the world. He is known for his counterintuitive positions, which have often proved him right over time. His fortune is estimated at more than $130 billion. In the ranking of the richest men in the world for July 2024, he was placed in 10th place. Forbes reported on this:
This is its lowest ranking in several years. Warren Buffett is one of only two figures among the top 10 to have fallen in the rankings this month.
However, the man made up for it this month by moving from tenth to 7th place. At the same time, it seems that the investor has decided to dump a lot of Apple shares.He reportedly sold approximately 400 million AAPL shares, worth between $80 billion and $90 billion at the time of the sale.
Bad news?
In reality, the sale was made through Berkshire Hathaway, which is Warren Buffet's company. In discussions on the subject of Apple stock, some are alarmed. When the first say that this does not bode well for Apple,the latter claim that Warren Buffet simply decided to withdraw his winnings, and nothing else.
For years, Apple has been Warren Buffet's favorite company, and for good reason: itkeeps growing. Avant 2024,Apple accounted for 50% of Berkshire Hathaway shares, but from now on it has dropped significantly. The businessman began investing in Apple in 2016, but since the beginning of the current year he has been selling shares en masse.
Most likely
According to fool.com, here is the real reason for this sale:
The current corporate tax rate is 21%, meaning Berkshire will have to pay the U.S. government $29.90 on its estimated earnings of $142.38 per share. During Berkshire's annual general meeting, Buffett emphasized that this rate was historically low. Buffett also recalled the time when it was 35%, even 52%, not too long ago.
Those who felt that this was simply profit-taking are ultimately right.
You can continue reading on the subject of Apple on the stock market infollowing this link.
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By : Keleops AG
