Buffett Dumps Apple Shares

Warren Buffett’s Berkshire Hathaway has filed its quarterly Form 13F filings with the Securities and Exchange Commission. It lists all the stocks the conglomerate holds, plus changes in the number of shares. Berkshire sold 20 million shares of Apple Inc. (NASDAQ: AAPL) in the period that ended June 30. Despite good earnings, Apple’s slow rollout of major artificial intelligence (AI) products raises concerns about its future revenue.

Buffett sold Apple shares last year, but none in 2025 until the recent announcement. The Wall Street Journal points out that Apple remains Berkshire’s largest holding. However, there is no way to describe the sale as a vote of confidence.

Buffett is known as a very long-term investor—until he isn’t. After years as the world’s leading tech company, many now see Apple as losing its innovative edge to Microsoft, Amazon, Meta, and OpenAI. The new iPhone 16 was supposed to have had an updated iOS that would also be the launch of a long list of AI-centric features. That launch has been delayed until next year. Apparently, the Siri integration of AI has been slow. Apple’s stock struggled, until recently, because of this delay.

Apple has had one silver lining, which showed up in earnings. There was worry that iPhone sales would be weak because of global competition and the fact that the iPhone 16 was not enough of an upgrade compared to the features of the iPhone 15. iPhone revenue grew 14% in the most recent quarter to $44.6 billion. The iPhone remains the engine of Apple’s success. Its revenue was almost half of the company’s total revenue in the period.

Buffett has not said why he sold these shares, nor is he obliged to. He obviously knows that Apple is playing catch-up in the most important AI advance, perhaps in tech history. That would make anyone question whether the stock can rally after a year of underperformance.

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