Apple (AAPL) Precipitous Sell-Off Adds Fuel to Buffett Rumors
The 23% sell-off in Apple (NASDAQ: AAPL) from its Sept 2nd all-time high is adding credence to recent rumors that Warren Buffett is trimming his position.
At the recent highs, Mr. Buffett’s 980.6 million share position in Apple was worth approximately $135 billion, giving him a paper profit of about $100 billion. It also eclipsed 50% of Berkshire's entire public stock portfolio.
Traders note Apple saw a similar steady climb to the upside when Buffett was originally accumulating his position.
Investors will not know if Mr. Buffett has in fact sold Apple this quarter until mid-November when Berkshire releases its Q3 13F. Unless, of course, the Oracle wishes to disclose it sooner.
