Ross Gerber, the CEO of Gerber Kawasaki Wealth and Tesla Inc. investor, recently criticized Warren Buffett for his lack of understanding of technology, which he believes led to the sale of Apple Inc. (NASDAQ:AAPL) shares before the AI revolution.
What Happened: On Saturday, Gerber took to X to express his views on Buffett's decision to sell Apple shares, which he believes was a mistake for long-term investors. This statement was made shortly after Berkshire Hathaway (NYSE:BRK) (NYSE:BRK), Buffett's firm, significantly reduced its stake in Apple.
"Warren Buffet doesn't understand technology, thats for sure. Selling Apple before the AI revolution is an error for long term investors," Gerber wrote
Why It Matters: The criticism from Gerber comes just days after Buffett significantly reduced Berkshire Hathaway's stake in Apple. According to a 10-Q report, the value of Berkshire's Apple holdings dropped by nearly 38% from the first to the second quarter of 2024. This reduction has led to a loss of substantial dividend income for Berkshire.
Additionally, both Bill Gross and Buffett have hinted at a bearish outlook for the stock market, advising investors to consider selling during recoveries rather than buying dips.
This sentiment was echoed by Elon Musk, who suggested that Buffett's actions indicate an expectation of a correction. Musk wrote, "He is clearly expecting a correction of some kind or otherwise simply cannot see better investments than Treasury bills."
Furthermore, Berkshire Hathaway has been actively selling other significant holdings, including shares of Bank of America Corp (NYSE:BAC), amounting to $3.8 billion since mid-July. This series of sales suggests a strategic shift in Buffett's investment approach, focusing on liquidity and potential market downturns.
Image via MidJourney
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
さらに、バークシャー・ハサウェイは、7月中旬から3800万ドルの価値があるBank of America Corp(NYSE:BAC)の株式を含む他の重要な保有資産を積極的に売却しています。これらの販売シリーズは、バフェット氏の投資手法に戦略的な変化があることを示唆しており、流動性と潜在的な市場の下落に注力しています。
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。