Warren Buffett’s firm unloads 57 million Apple shares

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Buffett
Warren Buffett is one of Apple's biggest cheerleaders.
Photo: CNBC

Berkshire Hathaway — the investment firm belonging to Warren Buffett, one of Apple’s biggest cheerleaders in recent years — reduced its stake in the Cupertino tech giant last quarter.

According to a regulatory filing made this week, in Q4 2020, Berkshire Hathaway cut 6% of its Apple shares. By contrast it kept its Amazon shares steady, while growing its stake in T-Mobile by a massive 117%.

How much Steve Jobs’ Disney and Apple shares would be worth today

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How much would Steve Jobs be worth today?
Things would have been even better had Steve Jobs held onto his original Apple shares.
Photo: Jorge Palma Pastor/Flickr CC

One of the things that always surprised me was how, compared to some of his Silicon Valley peers, Steve Jobs’ net worth during his life paled in comparison to some of his contemporaries.

When Jobs died in late 2011, his net worth was reported as being $10.2 billion. That’s an enormous amount of money, but it was a drop in the ocean next to Bill Gates’ $56 billion that year, and less than Google’s Sergey Brin and Larry Page’s $19.8 billion apiece, Michael Dell’s $14.6 billion, and Facebook’s Mark Zuckerberg’s $13.5 billion.

Had Jobs had the same share arrangement today, however, it would be a very different story.

Apple shares skyrocket 45,697% over past 20 years

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Just imagine if you'd invested a handful of cash in Apple in 1993.
Just imagine if you'd invested a handful of cash in Apple in 1993.
Photo: lucas Favre/Unsplash CC

Apple has come a long way this century alone. In 2001, Apple had yet to release the iPod, iTunes, the iPhone, iPad or Apple Watch. While the turnaround under Steve Jobs was underway, it was still in its earliest stages.

What has Apple’s ascension in the years since done to AAPL’s share price? On January 28, 2001, Apple — adjusted for splits and dividends — was trading at 30 cents a share. On January 28, 2021, Apple closed at $137.09. That’s an astonishing 45,697.7% increase!

Today in Apple history: Apple IPO mints instant millionaires

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Apple is worth more than the entire US energy sector combined
December 12, 1980, was an incredibly important day for Apple.
Photo: Ste Smith/Cult of Mac/401Calculator

December 12: Today in Apple history: Apple goes public at $22 per share, minting instant millionaires December 12, 1980: Apple goes public, floating 4.6 million shares on the stock market at $22 per share.

In the biggest tech IPO of its day, more than 40 out of 1,000 Apple employees become instant millionaires. As Apple’s biggest shareholder, 25-year-old Steve Jobs ends the day with a net worth of $217 million. However, the big payday triggers internal tensions as it highlights Cupertino’s class divide.

Fortunes missed: The Apple investors who sold their shares on IPO day

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Money on Unsplash
Apple shares have increased in value 1,000x times since December 1980.
Photo: Pepi Stojanovski/Unsplash

Sometimes, when Apple passes a major financial milestone, I’ll have a pang of regret at not having invested all the money I could lay my hands on on Apple back in the mid-1990s.

But that’s far from the worst missed opportunity involving Apple investment. A new article for Fast Company tells the story of seven early investors who sold their AAPL holdings on the day of the company’s IPO in December 1980.

Today in Apple history: Lousy quarter proves Steve Jobs isn’t invincible

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$1 trillion value
A perfect storm of bad news leads to a massive $195 million quarterly loss for Apple.
Photo: Apfellike

December 6: Today in Apple history: Apple suffers first quarterly loss since Steve Jobs' return December 6, 2000: Apple’s stock price falls after the company posts its first quarterly loss since Steve Jobs’ return to Cupertino in 1997.

Shares tumble $3 to just $14 a share as doom-predicting pundits worry that the big Apple comeback might come screeching to a halt.

Little did they know….

Will Apple’s Oct. 29 earnings call bring another pandemic miracle?

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Apple Q4 2020 earnings on Oct. 29: When it comes to Apple earnings, CEO Tim Cook seems to have a reality-distortion field of his own.
When it comes to Apple earnings, CEO Tim Cook seems to operate a reality distortion field of his own.
Photo illustration: Cult of Mac

When Apple holds its fiscal Q4 2020 earnings call on Oct. 29, can the company deliver another pandemic miracle?

We’ll all find out at 2 p.m. Pacific that day, when Apple live-streams its earnings call. (Actually, we’ll undoubtedly find out a half-hour earlier than that, when Cupertino issues its press release outlining its quarterly results).

Following last quarter’s record-setting results, Wall Street will be waiting with bated breath to see if Apple once again found a way to spin gold amid the economic disaster caused by COVID-19.

Apple CEO Tim Cook awarded first stock grant in nearly a decade

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CEO Tim Cook photo via Fox Business
That's a reason to smile!
Photo: Fox Business

Tim Cook may well stay at the helm at Apple until at least 2025, according to SEC filings which detail the stock options that will vest in that time. Cook will receive 333,987 units of restricted stock options, vesting in thirds beginning April 1, 2023.

“For the first time in nearly a decade, we are awarding Tim a new stock grant that will vest over time in recognition of his outstanding leadership and with great optimism for Apple’s future as he carries these efforts forward,” Apple’s board of directors told Reuters.

Big tech analyst thinks Apple could hit $3 trillion in next couple of years

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Money on Unsplash
That's a whole lot of cash.
Photo: Pepi Stojanovski/Unsplash

After seeming to defy the general COVID-19 downturn, tech stocks have taken a dip as of late. Loup Ventures’ tech analyst Gene Munster thinks there is going to be a split in future fortunes — with some soaring back up to previous highs and others, well, not.

Apple, he believes, is going to be a big winner. And from my calculations he thinks it could be just a couple of years from another major financial milestone.