Apple’s suppliers’ share prices dropped after Warren Buffett’s Berkshire Hathaway nearly halved its stake in the California-based tech company.
Kurt Schussler for Bloomberg News:
Taipei-listed iPhone assembler Hon Hai Precision Industry Co. and chipmaker Taiwan Semiconductor Manufacturing Co. slid about 10% each. Among component makers Murata Manufacturing Co. tumbled 15% in Tokyo, while LG Innotek Co. tanked as much as 13% in Seoul and Luxshare Precision Industry Co. fell 7.7% in Shenzhen.
Berkshire Hathaway sold $75.5 billion worth of Apple stock on a net basis in the second quarter, sending Warren Buffett’s cash pile to a record $276.9 billion. The billionaire unloaded shares as US stock gauges climbed toward the peaks reached in mid-July, before the recent wave of profit-taking on the artificial intelligence rally.
“It should be hard for anyone to argue that this is not a market negative,” Mike O’Rourke, chief market strategist at Jonestrading, wrote in a report, referring to Berkshire’s sale of Apple shares.
Shares of Apple climbed 23% in three months to June and touched a record high on July 16, as hopes grew for the company’s AI offerings. However, Apple’s new AI features won’t be ready in time for the initial launch of its upcoming iPhone and iPad software overhauls, Bloomberg News reported last week.
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MacDailyNews Take: Even after halving its stake, Apple remains Berkshire’s largest single position. Months after WWDC, it’s finally becoming clear to many people that Apple Intelligence is vaporware – a set of features that Apple is scrambling to build that will take years to fully realize.
Apple is not led by a visionary skating to where the puck will be, but rather one who must scramble madly to try to catch up to where the puck is today. This situation is guaranteed to repeat until Apple gets a visionary CEO once again. 🤞🏻
This is what happens after a decade plus with a caretaker CEO at the helm after he hits the last page of his iteration playbook, yet attempts to stay in the game for too long. – MacDailyNews April 1, 2024
Apple needs new leadership. The company needs vibrant, visionary, risk-taking leadership again. Apple’s “caretaker CEO” era should have ended years ago. – MacDailyNews, June 6, 2024
When you're caught flat-footed like Tim Cook's Apple, you pop into scramble mode to try to catch up. Early on, you hit it with a big marketing flourish (WWDC24) in order to buy some more time. Then you dribble out features as they get finished & actually exist. Classic vaporware. https://t.co/I1J4y3aDNy pic.twitter.com/fLKvxGj4G3
— MacDailyNews (@MacDailyNews) July 31, 2024
And, by the way:
Apple pays and has been paying John Giannandrea, Senior Vice President of Machine Learning and AI Strategy, millions upon millions of dollars for years. WTF of any import does he really do? WTF of any import has he really delivered? Have you used Siri lately? Yup, it’s still a steaming pile of dogshit.
Where’s Apple’s generative AI, John? “Too hard; too late; look for partners; gimme my paycheck and stock options.”
AAPL shareholders need to start asking real questions of these executives, especially those who are supposed in charge of Apple’s “AI Strategy,” when the company clearly has none. How about some accountability for once? – MacDailyNews, March 18, 2024
See also:
• Work on Apple Vision Pro began under Steve Jobs – August 23, 2023
• Contrary to popular belief, Steve Jobs knew about Apple Watch – February 13, 2023
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Hey, how many billions of Apple shareholders’ dollars has dumb-ass Tim Cook flushed down the “global warming” carbon credit toilet?
CO₂ is plant food, genius.
“Climate change solutions” are a socialist global wealth redistribution scam. Either Tim Cook is too stupid to figure it out or he’s in on the scam.
New Peer Reviewed Study: CO₂ Has Zero Impact On Climate Change – July 25, 2024
MDN: “it’s finally becoming clear to many people that Apple Intelligence is vaporware – a set of features that Apple is scrambling to build that will take years to fully realize.”
Other than this site, I haven’t read anyone say that Apple Intelligence is “vaporware.”
Artificial intelligence is a significant inflection point in tech and in our lives. But just like any major inflection points in the past, like the internet, it doesn’t happen overnight, and will improve substantially over time.
Apple’s traditional strategy is also to introduce new technology and then iterate and polish over time. And critics frequently say exactly this about all Apple version 1 tech. It was said about the iPhone, iWatch, iPad, everything.
Apple Intelligence is no different.
But “vaporware?” That’s FUD.
In case you somehow missed it above, bless your heart:
Other than this site, I haven’t read anyone say that Apple Intelligence is “vaporware.”
Clearly, you’re reading the wrong sites, most of which came after MDN.
Nobody knows Apple like MDN.
I’ll just leave this here: