Buffett bought $600 million more Apple on the dip last quarter

"Unfortunately the stock went back up, so I stopped." -- Warren Buffett

From Yun Li's "Buffett bought more Apple last quarter and says he would have added more if the stock didn't rebound" posted Monday on CNBC:

Warren Buffett bought the dip in his No. 1 stock Apple during the tech giant’s sell-off in the first quarter.

Berkshire Hathaway’s chairman and CEO told CNBC’s Becky Quick that he scooped up $600 million worth of Apple shares following a three-day decline in the stock last quarter. Apple is the conglomerate’s single largest stock holding with a value of $159.1 billion at the end of March, taking up about 40% of its equity portfolio.

“Unfortunately the stock went back up, so I stopped. Otherwise who knows how much we would have bought?” the 91-year-old investor told Quick on Sunday after Berkshire’s annual shareholders meeting.

My take: Dammit. Can't find the video anywhere -- even on CNBC Pro.

24 Comments

  1. Michael Goldfeder said:
    Warren Buffett always said he would buy the entire company if he could. I like people who are true to their word. Between Warren and Apple Buybacks, I’m so at ease that I’m going to take a nap.

    7
    May 2, 2022
  2. Steven Philips said:
    I thought about doing the same.
    But I couldn’t find the 600 million!
    Maybe next time?

    9
    May 2, 2022
  3. Robert Paul Leitao said:
    BHK could still buy Robinhood, but I don’t think the purchase order would get past Charlie Munger.

    1
    May 2, 2022
    • Steven Philips said:
      I don’t even think Prince John wants Robin Hood any more! And definitely don’t ask Maid Marion what she thinks!

      2
      May 2, 2022
      • David Emery said:
        But the Sheriff of Nottingham might well convene a Grand Jury to examine Robin Hood’s practices 🙂

        3
        May 2, 2022
  4. Fred Stein said:
    Betcha, Warren’s been nibbling a bit more lately.

    I sell long term, deep out of the money puts during these dips. Earnings keep growing organically, while available shares keep decreasing. This rewards patience.

    A June ’23 $95 put sells for $2.94, or 1.86% of AAPL today, betting that AAPL does not fall by 40% or more. AAPL is already 12% off peak. By June ’23, buybacks increase EPS by an extra 4%.

    1
    May 2, 2022

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