Actionable news
0
All posts from Actionable news
Actionable news in AAPL: Apple Inc.,

Why Warren Buffett is grabbing Apple stock while other big names run away

Warren Buffett famously avoided technology stocks for years with Berkshire Hathaway Inc., but has now amassed a large stake in Apple Inc.

Apple Inc. is now officially a value stock.

On Monday, the investor profile of Apple AAPL, +1.20% switched dramatically with news that Berkshire Hathaway Inc.’s BRK.B, +0.04% Warren Buffett loaded up on the company’s stock while other investors like Scion Asset Management, the second hedge fund run by Michael Burry, sold off. A few other institutional investment funds also reported changes in their holdings via Securities and Exchange Commission filings on Monday, showing a new kind of Apple investor: One that prefers slower growth companies with big piles of cash and dividend payouts instead of high-growth (and higher risk) investments.

Other investment managers unloading Apple stakes on Monday—the last day to report second-quarter changes—included George Soros’s hedge fund Soros Asset Management, David Einhorn’s Greenlight Capital, which reduced its stake by 16%, and Tiger Global Management. Those moves come a few...


More