This year, the value of Warren Buffet's Apple stake has been wiped off, or about $5 billion more than it spent.
At the end of December, the renowned investor's company owned 908 million shares of Apple. The technology titan's stock price has fallen 24% this year, reflecting a wider market slump as investors brace for an economic downturn, and concerns of lackluster demand for the new iPhone 14
The value of the stake has plummeted from $161 billion to $125 billion. A $700 billion decline in Apple's market cap surpasses the entire market cap of Warren Buffet's company.
Apple's cost base was reduced from $32 billion in 2016 to $21 billion in 2020 as a result of a $36 billion investment by the team of Warren Buffet and his team. In the second quarter of this year, they bought another 3.8 million Apple shares.
Apple remains the largest shareholder with a 5.6% stake, even though it is the number one holding in the stock portfolio.
In the last few years, Buffett has heaped praise on Apple, calling it a " family jewel" and "probably the best business" he knows.
The rocky ride with Apple stock has been a problem for the company. On September 13, the tech giant suffered the sixth-biggest single-day loss of market value for a US company in stock-market history. In September, the position lost $18 billion.
He famously invests for the long term and doesn't pay attention to daily price movements. It's not likely that he'll be cutting ties with the company's stock in the near future.
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