Buffett aggressively sold off Apple, but Apple shareholders unexpectedly received bullish news: up to $40 billion in ammunition.
Buffett sold a lot of Apple, which caused Apple's stock price to experience a 'Black Monday,' but it also brought unexpected bullish news to Apple investors: Apple's influence in major stock indices will be fully released. For many years, the weight of Apple in a series of benchmark indices has been low, because Berkshire tends to hold its investments for the long term. The first revision of Apple's weight will not take place until the quarterly index rebalancing next month, but insiders point out that some traders often bet early in such events.
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