Famed investor Warren Buffett cut his firm's Apple holdings by 13% in the first quarter of 2023, as analyst consensus was that the iPhone was seeing declining demand.
He also sold before the buyback which caused the stock to raise 7%~. If he was insider trading, it would have made sense to purchase before a buyback, then sell afterwards.
Man I wish I could see into the future of the companies that I have inside trading info on.
Except Apple did better than analysts forecasted, and announced a buyback, causing the stock price to go up.
He lost money compared to if he had waited until after.
That’s a pretty serious accusation- and I don’t think it’s likely that he has survived this long based on insider trading
He also sold before the buyback which caused the stock to raise 7%~. If he was insider trading, it would have made sense to purchase before a buyback, then sell afterwards.