Quick overview

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Legendary investor Warren Buffett acknowledged that his decision to sell shares of Apple Inc. came sooner than it should have, costing billions in potential gains in one of the most debated investment moves of recent years.

Buffett began reducing Berkshire Hathaway’s stake in Apple toward the end of 2023, in a process that continued through 2024 and 2025. In total, the conglomerate cut roughly two-thirds of its position during a period in which the stock kept climbing and hitting new record highs.

“I sold it too early,” Buffett admitted in a recent interview with CNBC, though he quickly tempered the comment by noting that Berkshire entered the investment at an early stage, allowing it to capture extraordinary gains over time.

Buffett’s long relationship with Apple

The history of the investment helps explain the scale of the outcome. Berkshire began buying Apple shares in 2016, a move that marked a break from Buffett’s traditional reluctance to invest heavily in large technology companies.

Over the years, the position grew to become the largest holding in Berkshire’s portfolio, reaching a value of more than $170 billion in 2023.

Even after the sales, Apple remains Berkshire’s largest stake, currently valued at roughly $62 billion — highlighting both the scale of the original investment and its importance to the conglomerate’s overall performance.

In profitability terms, the results have been striking. Berkshire generated more than $100 billion in pre-tax gains from the investment, cementing Apple as one of the most successful bets in Buffett’s career.

Why Berkshire reduced the stake

Despite Buffett’s self-criticism, the decision to sell was not impulsive. One of the main reasons, he explained, was portfolio concentration: Apple had grown to represent an unusually large share of Berkshire’s holdings, increasing overall risk.

Market conditions also played a role. Elevated valuations and the desire to lock in profits after a prolonged bull run influenced the decision, alongside tax considerations that encouraged trimming the position.

Even so, Buffett emphasized that he does not regret the broader strategy. His approach prioritizes discipline, diversification, and risk management over capturing every possible dollar of upside.

He also left the door open to future purchases. If Apple’s share price falls to more attractive levels, Berkshire could increase its stake again, though for now Buffett believes valuations remain demanding.