Warren Buffett, the renowned Oracle of Omaha, has engaged in numerous astute transactions over the past eight decades, solidifying his status as an investing giant with a staggering net worth exceeding $120 billion.
One of his most significant holdings and arguably his most successful trade in recent years has been Apple (NASDAQ: AAPL), a move that has propelled Buffett’s wealth since his initial purchase of the stock in 2016.
Despite reaping substantial profits from his sizable AAPL stake, which accounts for approximately 50% of his portfolio, the Oracle of Omaha has been steadily offloading shares of the tech behemoth in recent times, with a particularly notable sell-off occurring in the first quarter of 2024.
During this period, Buffett trimmed his Apple position by around 13%, selling a substantial 16 million shares. While this move may have been influenced by a strategy to capitalize on current tax rates amidst President Biden’s proposed tax hike for high-net-worth individuals, it may not have been the most strategic decision considering Apple’s stock performance.
Throughout Q1 2024, Apple shares traded within a range of $169 to $195, translating to Buffett pocketing at least $19.5 billion and potentially up to $22.6 billion. However, had he held onto the same number of shares until June 11, their value would have surged to $24 billion, resulting in a loss of between $1.4 billion and $4.5 billion for Buffett.
Despite the substantial sale of 16 million shares, it’s important to note that Buffett still retains nearly 790 million AAPL shares, which appreciated by $18 billion to reach $163.5 billion by the time of this publication.
