AppleInsider is supported by its audience and you may earn commission as an Amazon Partner and Affiliate Partner on eligible purchases. These affiliate partnerships do not affect our editorial content.
Warren Buffett said he bought $600 million worth of Apple stock during a March quarter dip, and would have bought more if the stock price hadn’t bounced back.
Apple’s stock price fell during a three-day sell-off around March 14, but recovered quickly. Bounce was the only reason Buffett did not add more shares to his portfolio, Berkshire Hathaway CEO and Chairman Tell CNBC.
“Unfortunately, stocks came back up, so they stopped. Otherwise, who knows how much we would have bought,” Buffett said on Sunday.
The apple is Berkshire Hathaway largest stockBuffett considers the company one of his “four giants”. By the end of March, the company owned $159.1 billion worth of Apple stock, which represented about 40% of its stock portfolio.
Buffett began buying Apple shares in 2016. Six years later, in March 2022, a report indicated that the investor had earned more than $100 billion who held Iphone maker shares.
Apple shares have been pressured by continued supply constraints and concerns about shifts in consumer spending due to inflation and other macroeconomic factors. Apple shares are currently down 13.69% in 2022 so far.
In late April, Apple allowed $90 billion in stock buybacks, maintaining its pace as a public company that spends most of the money repurchasing its shares. private equity.
“Typical beer advocate. Future teen idol. Unapologetic tv practitioner. Music trailblazer.”
More Stories
SNAP earnings for the first quarter of 2024
The US economy grew at a rate of 1.6% during the first quarter slowdown
Last night's winning numbers, lottery results