Published on 21 Mar 2024 on Benzinga
Apple's Stock Rollercoaster 7% Slide, Buffett's Bold Bet, And The Quest For A $200 Breakthrough -...
Apple Inc AAPL stock has seen a 7% decline this year, falling behind the S&P 500 SPY. An important factor contributing to this poor performance is the reduced demand from China, a significant market for Apple. Moreover, the company encounters tough challenges in the swiftly changing artificial AI sector, where competition is growing fiercer. Regulatory obstacles and a general growth slowdown also impact Apple's financial prospects.
Berkshire Hathaway, known for its long-term investment strategy, drew attention by selling around 10 million Apple shares in late 2023, representing about 1% of its holdings. This sale stands out not only for its scale but also because it signals a departure from Buffett's usual investment style.