Apple Stock Declines as It Loses Favor with Warren Buffett

Berkshire Hathaway's latest quarterly earnings report revealed that the company has reduced its Apple investment by 50%.

The conglomerate led by Warren Buffett now holds $84.2 billion worth of Apple shares, significantly lower than the $174.3 billion it possessed at the beginning of the year.

[{"selector":"#anim-a7312d49-c0db-4955-aa03-08d50cb8528b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(10.416666552892394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-430d1ef6-634a-4857-9148-d0a2009a7e01","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-33a883d0-3e22-47dc-ba13-83da080d4fd5","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Following the announcement, Apple's stock experienced a significant decline on Monday. The shares dropped over 9% in pre-market trading but showed a slight recovery after

[{"selector":"#anim-88e4bab3-3799-465c-988b-2b917d9eb56c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.248041434377853%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e8c5c8a8-0854-4c22-96dc-955707fcf370","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-3269a97f-e5fd-4035-b805-f7809c29967e","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

he market opened. Shortly after trading commenced, Apple's stock price was down by 5%.

[{"selector":"#anim-2bc5ad13-383b-4f7d-a1fd-02323b829b5d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.50348209300691%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-edfa84ec-80f3-47ef-8bf5-c4970b5bd7ce","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a58d6874-52f1-41ae-9526-5534f352db26","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Berkshire Hathaway has been steadily decreasing its investment in Apple over the past three quarters.

[{"selector":"#anim-5f41be8a-b304-4d07-a370-c2b9fe195b63 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e77f7ac2-42f5-47bc-ac1c-c4b4543d826a","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-306ab3f8-3fe4-4ce4-b37c-a02892197d34","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

However, Apple remains Berkshire Hathaway's largest stock holding, with Bank of America Corporation ($41.1 billion) and

[{"selector":"#anim-c7035c29-e931-4617-97c1-f6f2cc03f828 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(7.808563975722041%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e8e5d623-c9db-47a1-9c1c-5450bfd5f95a","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-4bf8d99a-321c-491d-9a35-3ff119b8021f","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

American Express Company ($35.1 billion) following closely behind as of June 30th.

[{"selector":"#anim-6d49330c-e262-4aa7-a36a-8c771b45e8b0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.251711589723424%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-6f8bd8f5-4405-4627-9e75-90e1ce70cb03","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e70d35a9-c924-43d5-8513-231d7cb17596","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Recently, Apple's stock price has started to stabilize after a three-month surge, during which it rose over 35% to reach a peak of $237 in mid-July.

[{"selector":"#anim-616dd129-d678-41f8-acd2-62f96b4dea9d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.88124989612409%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-891bc423-7215-4d4a-9991-5c1026d01113","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-469276e5-f5a2-45ff-bde1-1141bf673f3d","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

This increase came after Apple announced its AI strategy at the beginning of June during its Worldwide Developers Conference.

[{"selector":"#anim-cca5f1b8-6341-4b5f-a580-489966375b44 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-2e9d26d3-8c69-4257-a13d-ee3cc365f8af","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-db288d11-c31d-447b-abf1-9912398530a8","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]