Famed investor Warren Buffett says he sold Apple’s (AAPL) stock too soon and would buy more of it.
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“I sold it too soon,” said Buffett in an interview with CNBC. To be sure, Apple remains the largest holding of Buffett’s Berkshire Hathaway (BRK.B). However, the conglomerate reduced its stake in Apple to $61.96 billion at the end of last year, about half of what it was in 2023.
Buffett stressed in the same interview that he would buy more AAPL stock if it gets cheaper in coming months. He said the iPhone maker is not yet attractive even after falling more than 14% from recent highs, including a 6% decline in March of this year.
Buffett’s Views on Apple
“I’m very happy to have it (Apple) be our largest holding,” Buffett, age 95, said during the interview. “I was not happy to have it be as large as almost everything else combined… It’s not impossible that Apple would get to a price, we would buy a lot of it.”
Buffett noted that the Apple investment has been one of Berkshire Hathaway’s most profitable, having made more than $100 billion on the position. The legendary investor also praised Apple CEO Tim Cook. “Tim is a fantastic manager, and he’s a good guy, and somehow he gets along with everybody in the world,” said Buffett.
Buffett stepped down as Berkshire Hathaway’s CEO at the beginning of this year after 60 years at the helm. He remains chairman of the board of directors.
Is AAPL Stock a Buy?
Apple stock has a consensus Moderate Buy rating among 24 Wall Street analysts. That rating is based on 14 Buy, nine Hold, and one Sell recommendations issued in the last three months. The average AAPL price target of $304.66 implies 22.35% upside from current levels.
