ETFs in Focus as Buffett Cuts Apple Stake by Nearly 50%

Zacks08-05

In its second-quarter earnings report released recently, Warren Buffett's Berkshire Hathaway disclosed a huge reduction in its stake in Apple AAPL. Previously holding 790 million shares, Berkshire now...

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Previously holding 790 million shares, Berkshire now...</p>\n\n<a href=\"https://finance.yahoo.com/news/etfs-focus-buffett-cuts-apple-120000712.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1280957306.USD","symbol_name":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/etfs-focus-buffett-cuts-apple-120000712.html","article_id":"2457270087","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/JVe6R.MwhfIg9dpG9xW1Lw--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/0fe6ab239880650f75fb7142e2647c18"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2457270087","pubTimestamp":1722859200,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"In its second-quarter earnings report released recently, Warren Buffett's Berkshire Hathaway disclosed a huge reduction in its stake in Apple AAPL. Previously holding 790 million shares, Berkshire now has 400 million shares, marking a nearly 50% decline. This move is notable given Warren Buffett's long-standing association with Apple shares.Despite reducing its Apple holdings, Berkshire Hathaway reported a record cash pile of nearly $277 billion for the second quarter of 2024. This marks an increase from about $189 billion in cash and equivalents reported in the first quarter.In addition to Apple, Berkshire Hathaway also reduced its stake in its second-largest position, Bank of America, to $41.1 billion. The conglomerate sold off $75.5 billion in stocks during the second quarter, further shaping its investment portfolio.Hence, if you want to go by the bullish Zacks Rank, you might play Apple-heavy ETFs like Technology Select Sector SPDR Fund XLK, iShares Global Tech ETF IXN and iShares","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU0251142724.SGD":"Fidelity America A-SGD","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","IE0009G5SDU7.USD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (USD) INC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","BK4512":"苹果概念","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","BK4176":"多领域控股","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BRK.A":"伯克希尔","IYW":"美国科技ETF-iShares","BAC":"美国银行","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BRK.B":"伯克希尔B","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","FDN":"First Trust Dow Jones Internet I","BK4553":"喜马拉雅资本持仓","IXN":"iShares Trust S&P Global Informa","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","BK4534":"瑞士信贷持仓","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","AAPL":"苹果","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","IE00B4YYXB79.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","XLK":"高科技指数ETF-SPDR","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC"},"translate_title":"ETF成焦点巴菲特减持苹果股份近50%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XLK":1,"IXN":1,"IYW":1,"AAPL":1,"BRK.A":0.9,"FDN":0.9,"BRK.B":0.7,"BAC":0.5},"content_text":"In its second-quarter earnings report released recently, Warren Buffett's Berkshire Hathaway disclosed a huge reduction in its stake in Apple AAPL. Previously holding 790 million shares, Berkshire now has 400 million shares, marking a nearly 50% decline. This move is notable given Warren Buffett's long-standing association with Apple shares.\nRecord Cash Pile Amid Selling Spree\nDespite reducing its Apple holdings, Berkshire Hathaway reported a record cash pile of nearly $277 billion for the second quarter of 2024. This marks an increase from about $189 billion in cash and equivalents reported in the first quarter.\nIn addition to Apple, Berkshire Hathaway also reduced its stake in its second-largest position, Bank of America, to $41.1 billion. The conglomerate sold off $75.5 billion in stocks during the second quarter, further shaping its investment portfolio.\nInside Apple’s Latest Earnings Results\nApple reported robust third-quarter fiscal 2024 results, wherein it beat both earnings and revenue estimates.  The iPhone manufacturer returned to revenue growth and pinned hopes on AI for iPhone upgrades.\nThe tech giant is set to launch a host of AI-theme initiatives heading into the release of its iPhone 16 later this fall. The next model, the iPhone 16, is expected to be equipped with an AI chip, which would spur iPhone upgrades in the coming months, helping the company re-emerge from a sales slowdown that has hit its China business hard (read: Apple Beats on Q3 Earnings, Pins Hopes on AI: ETFs to Buy).\nWhat Probably Went Wrong?\nInvestors should note that Apple shares are lagging behind its other big tech peers due to its lack of dependence on artificial intelligence. And now, tech companies have been shelling out billions on AI initiatives have been showing lackluster results as investors are anticipating later-than-expected return on investment in AI. So, there has been an “AI fatigue” in Wall Street.\nProbably sensing that, Buffett cut his stake in Apple. The Apple stock has a downbeat Value Score of “D.” Apple has an expected growth rate of 8.32% for this year versus the underlying Zacks industry Micro Computers’ growth rate of 19.80%.\nFor the next year, Apple is likely to record a 13.10% growth rate versus the industry growth rate of 20.20%. If you are worried about Buffett’s recent move and Apple’s weaker growth momentum, you might stay out of Apple stock.\nPrice Target\nBut then, Apple has a Zacks Rank #2 (Buy). Based on short-term price targets offered by 32 analysts, the average price target for Apple comes to $234.00. The forecasts range from a low of $180.00 to a high of $300.00. The average price target represents an increase of 7.16% from the last closing price of $218.36 recorded on Aug 1.\nHence, if you want to go by the bullish Zacks Rank, you might play Apple-heavy ETFs like Technology Select Sector SPDR Fund XLK, iShares Global Tech ETF IXN and iShares U.S. Technology ETF IYW. Since there still are uncertainties related to the success of Apple’s upcoming AI rollout, it is better to track the company with the ETF approach. The basket approach minimizes the company-specific concentration risks.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nApple Inc. (AAPL) : Free Stock Analysis Report\nTechnology Select Sector SPDR ETF (XLK): ETF Research Reports\niShares U.S. Technology ETF (IYW): ETF Research Reports\niShares Global Tech ETF (IXN): ETF Research Reports\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2457270087"}