Warren Buffett Keeps Dumping Apple Shares: Here's the Stock He Is Buying Instead
Another quarter, another Apple (NASDAQ: AAPL) sale from Warren Buffett. The legendary investor sold a massive chunk of Apple stock yet again in the third quarter, estimated to be worth more than $20 billion, or 100 million shares. Berkshire Hathaway -- the company Buffett controls -- still owns $70 billion of Apple stock, but it is now a much smaller position than at the start of the year.
Why is Buffett selling? This article will get into the likely culprit a little later. More importantly, what is Buffett buying today? Not much, but Berkshire Hathaway did take a stab and acquired 3.5% of Domino's Pizza (NYSE: DPZ) last quarter. Here's why the company may look attractive to Buffett and his investment team at the moment.
The Apple investment has generated over $100 billion in capital gains for Berkshire Hathaway. Throughout 2024, Buffett has begun to realize a lot of these gains, raising Berkshire Hathaway's cash position to more than $300 billion.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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