Apple shares fell the biggest one-day drop in 4 years, Buffett lost $3 billion 700 million.

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 Apple shares fell the biggest one-day drop in 4 years, Buffett lost $3 billion 700 million.


Apples shares closed down 6.6% on Friday, the biggest one-day drop since January 2014. According to Berkshire Hathaways latest stock ownership report to the Securities and Exchange Commission (SEC), the Omaha Prophet holds more than 250 million shares of Apple. At Apples closing price of $207.48 last Friday, the value of Buffetts shares fell by $3.7 billion. Before the disappointing report was released, Apples stock price closed at $222.22 on Thursday.

Apples share price fell because of its iPhone shipments lower than analysts expected in the previous quarter. Apple also released the financial outlook for the rest of the year, which disappointed many investors. These factors led to the companys expected earnings and earnings performance forecast.

However, Buffetts losses may be even more disastrous. He revealed at the end of August that he had bought more apple stocks since the end of June. At that time, he said his shareholdings increased by 5%. We just bought a little more, he said in an interview with CNBC, an American technology media, about two months ago.

Earlier this year, apple became the first US listed technology company with a market value of US $1 trillion. According to FactSet, Berkshire Hathaway is Apples second largest shareholder, holding about $52 billion worth of Apple stock. Despite Wall Streets concerns about the device sales of the iPhone maker, Buffett often explains that his love for Apple stems not so much from short-term financial performance as from trust in its brand and ecosystem power. Im not going to focus on next quarter or next years sales, he said in August. Im going to focus on millions of people who actually live on the iPhone. He also called the iPhone seriously undervalued and said it was worth far more than Apples latest $1,000 price. (small) source of this article: NetEase science and technology report editor: Zhang Zutao _NT5054

Earlier this year, apple became the first US listed technology company with a market value of US $1 trillion. According to FactSet, Berkshire Hathaway is Apples second largest shareholder, holding about $52 billion worth of Apple stock.

Despite Wall Streets concerns about the device sales of the iPhone maker, Buffett often explains that his love for Apple stems not so much from short-term financial performance as from trust in its brand and ecosystem power.

Im not going to focus on next quarter or next years sales, he said in August. Im going to focus on millions of people who actually live on the iPhone. He also called the iPhone seriously undervalued and said it was worth far more than Apples latest $1,000 price. (small)