Wed Sep 18 07:06:58 UTC 2024: ## Berkshire Hathaway Cuts Apple Stake While Other Hedge Funds Buy In

**New York, NY** – Berkshire Hathaway, the investment firm led by Warren Buffett, reduced its stake in Apple Inc. by 22.2% in the second quarter, according to its latest SEC filing. The firm now holds 20,739 shares of the tech giant, worth approximately $4.37 million. Despite the reduction, Apple remains Berkshire’s 19th largest holding, representing about 0.5% of its portfolio.

While Berkshire trimmed its Apple position, several other hedge funds increased their holdings in the company during the quarter. Onyx Bridge Wealth Group LLC, Geneva Partners LLC, Heirloom Wealth Management, and J.W. Cole Advisors Inc. all boosted their positions in Apple, demonstrating continued confidence in the company’s performance. Stephenson & Company Inc. also entered a new position in Apple during the quarter.

Apple’s stock performance has been a hot topic lately, with some analysts remaining optimistic and others expressing concerns. Loop Capital upgraded Apple to a “buy” rating, citing its strong earnings and future prospects. Melius Research also maintained a “buy” rating, while Erste Group Bank and Raymond James increased their price targets on the stock. Conversely, Barclays lowered its price target and assigned an “underweight” rating, citing concerns about slowing iPhone sales.

In recent weeks, Apple insiders have been selling shares, raising further questions about the company’s future. Chris Kondo and Katherine L. Adams, two Apple executives, sold a combined total of 113,884 shares, worth $23.7 million, over the past three months. This activity may indicate that some insiders believe the stock is overvalued or are simply adjusting their personal portfolios.

Despite these mixed signals, Apple’s recent quarterly earnings report provided some optimism. The company exceeded analysts’ expectations, reporting earnings per share of $1.40 and revenue of $85.78 billion, fueled by strong growth in its services segment.

As of the end of the second quarter, institutional investors and hedge funds held a majority stake in Apple, controlling 60.41% of the company’s outstanding shares. However, with Berkshire Hathaway reducing its position and insiders selling shares, it remains to be seen how the company’s stock will perform in the coming months.

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