Warren Buffett invests 29% of his portfolio in a major AI stock, Apple's AI initiative

From Nasdaq: 2024-08-26 20:00:00

Artificial intelligence (AI) remains a top investment focus, with Warren Buffett allocating 29% of Berkshire Hathaway’s public equities portfolio to a major AI stock. Apple, a dominant tech titan, unveiled its AI initiative called Apple Intelligence to enhance user experience across its 2.2 billion active devices globally. The company’s primary goal is to sell more iPhones and boost revenue. Despite Apple’s competitive advantage, its current stock price is not seen as a smart buying opportunity due to high valuations at a PE ratio of 34, suggesting limited growth potential. Investors should reconsider buying Apple stock based on Warren Buffett’s recent actions. The Motley Fool Stock Advisor team identified 10 best stocks for investment, excluding Apple, with potential for significant returns in the future. Investors seeking high-growth opportunities may want to explore these stocks rather than investing in Apple at this time.



Read more at Nasdaq: 29% of Warren Buffett’s Portfolio Is Invested in This 1 Monster AI Stock