SPY369.85+3.16 0.86%
DIA302.59+2.53 0.84%
IXIC12,464.23+87.05 0.70%

Warren Buffett Sells Some Apple Stock, But These Investors Don't Think He's Done With The Tech Giant

On CNBC's "Fast Money Halftime Report," investors discussed Warren Buffett's recent portfolio changes in Berkshire Hathaway (NYSE: BRK-A)(NYSE:

· 11/17/2020 12:31

On CNBC's "Fast Money Halftime Report," investors discussed Warren Buffett's recent portfolio changes in Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B). Berkshire sold about 36 million shares of Apple Inc. (NASDAQ:AAPL) in the third quarter, according to the most recent 13F filing.

"Buffett selling Apple is just portfolio management," said Steve Weiss of Short Hills Capital.

The market has seen a large rotation out of tech as COVID-19 vaccine news ramps up. The sector benefitted from the so-called "stay-at-home" restrictions.

"I don't think Buffett has conviction on getting out of Apple. It's still one of his biggest holdings," said Tiffany McGhee of Momentum Advisors.

If Buffett indeed plans on selling more Apple, it could cause a larger rotation out of tech as many investors follow his trades.

"Buffett's recent sales are only indicated by his 13F as of September 30. He may have sold much more since for all we know," said Weiss.

Apple's stock trades around $120.23 at publication time.