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Warren Buffett has never been shy about admitting when he got something wrong. But his latest admission carries a particular sting: when pressed on his decision to trim Berkshire Hathaway’s Apple position, the Oracle of Omaha offered a characteristically candid four-word verdict.
“I sold it too soon.”
The context matters. Buffett was reflecting on his long-term investment philosophy, noting that Berkshire has held American Express for roughly 30 years and Coca-Cola for roughly 35 years, and that he expects to own businesses like Occidental for 50 years. Apple, by that standard, was a shorter relationship than he would have liked.
A Position Built and Partially Unwound
Berkshire began accumulating Apple shares around 2016, and the stake eventually grew into the firm’s largest equity holding, valued at over $170 billion at its peak. Then came the sales. Through 2023 and 2024, Berkshire reduced the position by roughly two-thirds, leaving the stake valued at approximately $40 billion at the end of 2024.
Buffett was quick to frame the outcome positively. Berkshire made over $100 billion pretax on the position, and he noted that Apple remains Berkshire’s largest single investment. He also offered a striking endorsement: Apple is better than any business Berkshire owns outright, even noting that Berkshire owns a railroad worth more than its Apple position, yet Apple still tops the holdings list.
What Buffett Left on the Table
Apple’s performance since those sales makes the timing sting more. The company has delivered a string of record-breaking results. In its most recent quarter, Q1 FY2026 revenue came in at $143.756 billion, up 15.65% year over year, with iPhone revenue hitting an all-time record of $85.269 billion, up 23.3% year over year. Services revenue reached $30.013 billion, another all-time high.
Tim Cook captured the moment on the earnings call: “Today, Apple is proud to report a remarkable, record-breaking quarter, with revenue of $143.8 billion, up 16 percent from a year ago and well above our expectations.”
Apple’s installed base has now crossed 2.5 billion active devices, a figure that underpins the Services growth engine. Since the start of 2024, AAPL shares have risen 34.23%. The stock currently trades around $246.63, with analyst consensus carrying a price target of $295.31.
Buffett was clear that he has no ability to predict what stocks will do next week or next month. What he does know is that Apple’s business has continued to compound well beyond the point he chose to reduce exposure. The profits were real. The opportunity cost was, too.