Warren Buffett Sold Off $800 Million of AAPL Stock Last Quarter

Berkshire Hathaway sold $800 million in Apple stock over the last quarter, according to SEC filings published on Friday. Depending on when Warren Buffett's real estate company sold the 3.7 million Apple stock, it will have earned between $806 million and nearly $1.1 billion.


According to Business Insider, what might look like a massive sale is actually only a small portion of Buffett's investment in the tech company. Berkshire is Apple's biggest shareholder with a 5.4 percent stake worth $72 billion, according to Bloomberg data.

It's unclear what prompted the sale, but the company may have wanted to diversify its holdings, given some of its other investments in the last quarter, such as Kroger and Biogen. Apple accounts for 30 percent of Berkshire Hathaway's portfolio. Another possible reason for the sell-off is to cash out after Apple's stock surged by a third last quarter, from around $219 to $294.

Historically, Buffett has shied away from investing in technology companies, but the business magnate has suggested he sees Apple more as a consumer company and has been a long-term investor in the iPhone maker.

Last month, Apple reported quarterly revenue of $91.8 billion and net quarterly profit of $22.2 billion, or $4.99 per diluted share, compared to revenue of $84.3 billion and net quarterly profit of $20.0 billion, or $4.18 per diluted share, in the year-ago quarter. The quarter was the best in Apple's history, topping the first fiscal quarter of 2018.


This article, "Warren Buffett Sold Off $800 Million of AAPL Stock Last Quarter" first appeared on MacRumors.com

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‘Warren Buffett’s Paper Wizard’ is Apple’s First iPhone Game Since 2008

Apple CEO Tim Cook made a surprise appearance at Berkshire Hathaway's annual meeting in Omaha, Nebraska over the weekend, where he said he is "thrilled" that billionaire Warren Buffett is an investor in the iPhone maker.


At the start of the shareholder meeting, Cook made a cameo appearance in a humorous short film in which Buffett visits a top-secret lab at Apple to try to come up with ideas for an app and other inventions, including a time machine where Buffett tells his childhood self to buy Apple stock, according to CNN.

Cook ultimately suggests a newspaper-tossing iPhone game. Buffett was a childhood newspaper carrier who for years held newspaper-tossing contests during the annual meeting, according to the Omaha World-Herald.

As it turns out, the game is actually real.


Warren Buffett's Paper Wizard, a free download on the App Store, tasks players with flinging newspapers to collect Warren Bucks. The game gradually increases in difficulty as players make their way from Omaha to Apple's hometown of Cupertino, California, including a visit to Apple Park.
Think you can toss a newspaper like the legendary Warren Buffett? Test your paper-flinging skills as you make your way from the streets of Omaha, Nebraska, all the way to Cupertino, California. Avoid vehicles and birds as you deliver papers to buildings near and far. Will anyone collect enough Warren Bucks to dethrone the Paper Wizard? Probably not.
While the game's developer is listed as Wildlife Designs, Inc on the App Store, the app is copyrighted, maintained, and operated by Apple according to its terms and conditions, making this the first game Apple has developed for the iPhone since Texas Hold'em back when the App Store launched in 2008.


In an interview with CNBC, Cook said Buffett has made it clear he does not invest in technology companies, meaning he "obviously views Apple as a consumer company." Cook also said Apple acquires a company every two to three weeks on average, including 20 to 25 companies in the last six months.


This article, "'Warren Buffett's Paper Wizard' is Apple's First iPhone Game Since 2008" first appeared on MacRumors.com

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Berkshire Hathaway Bought 75 million Additional Apple Shares in Q1 2018

Berkshire Hathaway bought 75 million additional Apple shares in the first three months of 2018, CEO Warren Buffett told CBNC on Thursday, signaling the billionaire investor's continuing confidence in Apple.

In February last year, Buffett revealed that his holding company held around 133 million shares in Apple prior to the company's record-breaking earnings results on January 31, 2017, worth over $17 billion at the time. Today it holds 240.3 million shares worth $42.5 billion.

"If you look at Apple, I think it earns almost twice as much as the second most profitable company in the United States," Buffett told CNBC.
Historically, Buffett has shied away from investing in technology companies, but the business magnate has suggested he sees Apple more as a consumer company. Reuters reports that Berkshire's latest Apple investment serves as a way of reducing the corporate group's $116 billion in cash and equivalents, without having to acquire a whole company.

Apple posted revenue of $61.1 billion and net quarterly profit of $13.8 billion in the first quarter of the year, up from revenue of $52.9 billion and net quarterly profit of $11.0 billion in the year-ago quarter. Apple said it will start a new share buyback authorization of $100 billion following the record revenue and profit numbers.


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