“In the fourth quarter, a broader market sell-off — coupled with China’s slowdown concerns — took a toll on Apple. The stock tumbled more than 30% in the quarter. The company’s market capitalization also fell below $700 billion for the first time since 2017,” O’Hara writes. “In an interview with CBNC, Buffett said Berkshire Hathaway’s average buying price for Apple ‘is about $141 or something like that.’ In response to a question about whether he would buy Apple ‘at $160 or something,’ Buffett replied in the negative. However, he did say, ‘I’m always interested in lower levels in a number of stocks we own.'”
O’Hara writes, “Apple is trading above $200 now, and the company’s market capitalization is approaching the $1 trillion mark.”
Read more in the full article here.
MacDailyNews Take: Something tells us Warren Buffett’s Berkshire Hathaway is going to be just fine regardless.
That said, there certainly was a tidy profit to be made in Q4 2018 for those who followed Buffet’s own advice: Be fearful when others are greedy and greedy when others are fearful.
Apple is ridiculously undervalued currently. AAPL is on a deep discount sale for the holidays. — MacDailyNews, December 13, 2018 (AAPL intraday low: $169.55)
If you can spot overreactions in the market, you can profit from them. — MacDailyNews, January 4, 2019 (AAPL intraday low: $143.80)
Warren Buffett says he’s holding $52 billion in Apple shares, would buy if the shares got cheaper – February 25, 2019
Berkshire Hathaway trimmed Apple shares slightly to 249.6 million shares in Q418 – February 14, 2019
$452 billion goes poof: Apple’s market value decline since peak easily exceeds the value of nearly any U.S. company – January 4, 2019