Monday , May 29 2023

Apple shares are falling, but Warren Buffett continues to buy them


Despite the negative analysts' predictions and weak sales of the new iPhone, legendary Warren Buffett continues to buy Apple shares. According to the Securities and Exchange Commission, it purchased 522,802 Apple shares in the third quarter of 2018.

On November 15, the SEC announced that by the end of September Berkshire Hathaway holds 252,478,779 AAPL shares.

Berkshire Hathaway's investments clearly show Buffett's confidence in the technology giant, despite analysts' fears that iPhone sales – the most important Apple product – have peaked and dropped.

In the quarterly financial report, Apple told investors that it would no longer report the number of iPhones, iPads and Macs sold. This move shows that Apple is trying to hide the number of smartphones sold because sales have stopped growing.

"Data on the number of iPhone sold so far is not as up-to-date as it used to be"- said Apple CEO Luca Maestri.

It seems Buffett agrees with Maestri's opinion and explains why Apple's investment is profitable.

"I am not focusing on iPhone sales in the next quarter or next year. It does not matter that Apple will not announce the exact number of smartphones sold. Hundreds of millions of people use these devices in their everyday lives and this is the most valuable property in the world"Buffett said.

In 2016 Berkshire bought Apple shares for $ 1 billion. Now the Buffett Empire is Apple's third-largest shareholder, with about 5% of the company's share.

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