The Long Investor

$AAPL TOP 20

Added 2024-05-05 17:05:32 +0000 UTC

Big question this weekend will be how the market behaves to Buffett selling 13% of his stake in $AAPL and selling for the second quarter in a row, he got this absolutely right and likely started selling as $AAPL rejected at its ATH and started its Wave A decline.

There is no reason to sell 50% of his position for him as he enjoys a very lucrative dividend payment from $AAPL and this is in line with Berkshires strategy.

The post earnings bounce was strong and we were expecting it for Wave B, now we need to wait for a rejection to start coming down for Wave C.

$AAPL for me tried to overly compensate with issuing a $110 Billion buyback after weaker growth YoY and QoQ.

Spending that much money on buybacks instead of innovating or acquiring does not make sense to me but it looked like they needed to stop the bleeding and they reacted concerningly, I believe the market will take this for what it is, a patch up job and push this down further until Sept....which Dan Ives eluded too.

$AAPL is not something I would be buying right now.

Buffett reducing his largest position and increasing his cash reserves is exactly in line what we are doing here in this group, if we get it wrong, so be it but we would rather be thinking along the same lines as Buffett than not.