Famed investor Warren Buffett has continued cutting his exposure to Apple (AAPL), one of the “Magnificent 7” stocks, during the third quarter. Buffett’s Berkshire Hathaway’s (BRK.B) latest SEC filing shows the firm now holds 238.2 million shares, down from 280 million shares in the prior quarter.
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At one point, Berkshire owned well over 900 million Apple shares, making this part of a steady, multi-quarter selling trend. However, Apple still remains Berkshire’s largest holding, valued at about $60.7 billion as of September 30.
Buffett Cuts His Apple Stake Despite Strong Results
Berkshire’s reduction does not point to concerns about Apple’s performance. Apple recently posted better-than-expected fiscal fourth-quarter results, supported by solid demand for the new iPhone 17 lineup and continued strength in its high-margin Services business. Overall, the company continues to show steady momentum across both hardware and recurring revenue.
Most analysts believe the sale is tied to portfolio balance rather than concerns about Apple’s outlook. Buffett himself has not commented publicly on why he is reducing his Apple position.
Beyond Apple, Berkshire has made other adjustments. The firm also trimmed its stake in Bank of America (BAC) by about 6% during the quarter, selling roughly 37.2 million shares valued at about 1.9 billion dollars.
Berkshire Reveals $4.3 Billion Stake in Alphabet
This update came as Berkshire also revealed a new $4.3 billion stake in Alphabet (GOOGL), the parent of Google.
The new Alphabet investment stood out, mainly because Warren Buffett has been cautious with tech stocks in the past. The filing showed that Berkshire now owns 17.85 million Alphabet shares, making it the group’s tenth-largest U.S. stock holding.
Is AAPL Stock a Buy?
The stock of Apple has a consensus Moderate Buy rating among 28 Wall Street analysts. That rating is based on 21 Buy, 12 Hold, and two Sell recommendations assigned in the last three months. The average AAPL price target of $290.67 implies 6.70% upside from current levels.
