<p>除非你一直生活在石头下，否则你已经知道著名投资者沃伦·巴菲特正在大量抛售 <strong>苹果</strong>(AAPL -0.12%) 股票。他的控股公司 <strong>伯克希尔·哈撒韦</strong> 在过去几个月里进行了几次苹果股票的出售，已经将其在苹果的持仓从去年此时接近 50% 的整个投资组合减半至今天的不到 23%。</p>
<p>评论人士一直在思考这意味着什么。巴菲特对苹果失去信心了吗？苹果股票太贵了吗？伯克希尔·哈撒韦只是储备现金吗？</p>
<p>在投资者争论的时候，其他亿万富翁投资者正在采取行动，他们的做法并不都像巴菲特那样。例如，米伦尼姆管理公司的以色列·英格兰德在第二季度购买了 5,163,316 股新的苹果股票，将其基金的持仓提高了 68%，达到 12,809,102 股。</p>
<p>对于个人投资者来说，哪种持仓方式更有意义？</p>
<h2>亿万富翁之间的较量</h2>
<p>巴菲特的出售并不意味着他不再喜欢苹果。苹果仍然是伯克希尔·哈撒韦最大的持仓，巴菲特去年表示他计划永远持有。这是在他已经出售了一些苹果股票之后，暗示他仍然会在投资组合中保持重要的持仓，而事实确实如此。</p>
<p>投资者可以分析他为何出售部分持仓，但显然他仍然认为苹果是一家优秀的企业，值得持有其股票。</p>
<p>因此，他对苹果的看法可能与其他拥有苹果股票的亿万富翁对冲基金经理的看法并没有太大不同，比如英格兰德。</p>
<p>苹果股票今年迄今上涨约 17%，这意味着购买它的人比出售它的人要多。这就是市场的运作方式。尽管巴菲特进行了大规模的出售，但在他出售的这段时间内，苹果股票的价格最终还是上涨了。考虑到巴菲特在苹果股票中的大量持仓——即使在当前水平，伯克希尔·哈撒韦仍持有 2% 的流通股——还有更多的人在购买苹果股票，比如英格兰德。</p>
<p>巴菲特曾赞扬苹果的高管团队和客户忠诚度。苹果创造了一个技术生态系统，让客户可以使用从 iPhone 到 MacBook 再到 AirPods 等一系列产品，并不断通过升级和订阅服务进行更新。</p>
<p>根据 Counterpoint 的数据，苹果在 2024 年第二季度的智能手机出货市场中占据了 52% 的份额，与去年持平，并预计将从人工智能（AI）的投资中受益。</p>
<p>因为苹果正在开发自己的 AI 技术，而不是像大多数硬件公司那样与合作伙伴合作，iPhone 用户的设备中嵌入了苹果的服务。苹果的所有技术都是相互关联的，并在其设备系列中无缝协作，这就是为什么将用户引入其生态系统如此有利可图。</p>
<p>苹果是世界上最有价值的公司，也是唯一一家市值超过 3.5 万亿美元的公司。亿万富翁投资者知道这是一个在其领域持续主导、技术创新和股票收益的强大赌注。</p>
<h2>亿万富翁与你</h2>
<p>那么个人投资者呢？</p>
<p>巴菲特和英格兰德在投资组合管理上有两种不同的方法。巴菲特喜欢说他不是选股者，而是选商业者。他通常在任何时候持有 45 到 50 只股票，他最喜欢的持有期限是 “永远”。</p>
<p>相比之下，英格兰德持有约 6,000 只股票。他还持有许多看跌和看涨期权的组合，尽管苹果是他最大的单只股票持仓。</p>
<p>这两位投资巨头继续对苹果的未来表现出巨大的信心。</p>
<p>苹果股票仍然具有很大的长期潜力，并且在其主导地位和分红中提供了价值。新的投资者可能不想像这些资金经理那样将其作为最大的持仓，因为其增长前景在一定程度上受到其庞大规模和当前不便宜的估值的制约。但对于长期投资者来说，它可以成为一个强有力的基石股票。</p>

苹果

<p>沃伦·巴菲特显著减少了他在苹果公司的股份，出售了超过一半的股票，而亿万富翁以色列·英格兰德则将其持仓增加了 68%，购买了超过 500 万股新股票。尽管巴菲特进行了减持，苹果股票今年仍上涨了 17%，显示出市场的强烈兴趣。巴菲特坚持认为苹果仍然是核心持仓，赞扬其管理层和生态系统。两位投资者都对苹果的未来充满信心，尽管他们的投资策略有所不同，巴菲特倾向于长期投资，而英格兰德则在数千只股票中进行多元化投资</p>

<p>Unless you've been living under a rock, you already know that famed investor Warren Buffett has been selling <strong>Apple</strong>(AAPL -0.12%) stock by the boatload. His holding company, <strong>Berkshire Hathaway</strong>, has made several sales of the tech king over the past few months, more than halving its position in Apple from nearly 50% of the entire portfolio at this time last year to less than 23% today.</p>
<div class="lb-trans"><p>除非你一直生活在石头下，否则你已经知道著名投资者沃伦·巴菲特正在大量抛售 <strong>苹果</strong>(AAPL -0.12%) 股票。他的控股公司 <strong>伯克希尔·哈撒韦</strong> 在过去几个月里进行了几次苹果股票的出售，已经将其在苹果的持仓从去年此时接近 50% 的整个投资组合减半至今天的不到 23%。</p>
</div><p>Pundits have been pondering what it means. Is Buffett losing faith in Apple? Is Apple stock too expensive? Is Berkshire Hathaway just stockpiling cash?</p>
<div class="lb-trans"><p>评论人士一直在思考这意味着什么。巴菲特对苹果失去信心了吗？苹果股票太贵了吗？伯克希尔·哈撒韦只是储备现金吗？</p>
</div><p>While investors hash it out, other billionaire investors are making their moves, and they're not all like Buffett's. For example, Israel Englander of Millennium Management bought 5,163,316 new shares of Apple stock in the second quarter, raising his fund's position by 68% to 12,809,102 shares.</p>
<div class="lb-trans"><p>在投资者争论的时候，其他亿万富翁投资者正在采取行动，他们的做法并不都像巴菲特那样。例如，米伦尼姆管理公司的以色列·英格兰德在第二季度购买了 5,163,316 股新的苹果股票，将其基金的持仓提高了 68%，达到 12,809,102 股。</p>
</div><p>Which position makes the most sense for individual investors?</p>
<div class="lb-trans"><p>对于个人投资者来说，哪种持仓方式更有意义？</p>
</div><h2>Billionaires versus each other</h2>
<div class="lb-trans"><h2>亿万富翁之间的较量</h2>
</div><p>One thing Buffett's sale doesn't mean is that he doesn't like Apple anymore. Apple is still Berkshire Hathaway's largest position by far, and Buffett said last year that he plans to hold it forever. That was after he'd already sold off some Apple stock, and the implication was that it would continue to have a meaningful position in his portfolio, which it does.</p>
<div class="lb-trans"><p>巴菲特的出售并不意味着他不再喜欢苹果。苹果仍然是伯克希尔·哈撒韦最大的持仓，巴菲特去年表示他计划永远持有。这是在他已经出售了一些苹果股票之后，暗示他仍然会在投资组合中保持重要的持仓，而事实确实如此。</p>
</div><p>Investors could weigh in on why he sold off part of his position, but it's clear that he still thinks Apple is an excellent business and that it's worth holding on to its stock.</p>
<div class="lb-trans"><p>投资者可以分析他为何出售部分持仓，但显然他仍然认为苹果是一家优秀的企业，值得持有其股票。</p>
</div><p>So, his feelings about Apple are probably not very different from those of other billionaire hedge fund managers who own Apple stock, like Englander.</p>
<div class="lb-trans"><p>因此，他对苹果的看法可能与其他拥有苹果股票的亿万富翁对冲基金经理的看法并没有太大不同，比如英格兰德。</p>
</div><p>Apple stock is up about 17% year to date, and that means that more people are buying it than selling it. That's how the market works. Despite Buffett's large sale, Apple stock is ultimately up over the period that he's been selling. Considering Buffett's large share of Apple stock -- even at the current level, Berkshire Hathaway owns 2% of shares outstanding -- many more people have been buying Apple stock, such as Englander.</p>
<div class="lb-trans"><p>苹果股票今年迄今上涨约 17%，这意味着购买它的人比出售它的人要多。这就是市场的运作方式。尽管巴菲特进行了大规模的出售，但在他出售的这段时间内，苹果股票的价格最终还是上涨了。考虑到巴菲特在苹果股票中的大量持仓——即使在当前水平，伯克希尔·哈撒韦仍持有 2% 的流通股——还有更多的人在购买苹果股票，比如英格兰德。</p>
</div><p>Buffett has praised Apple for top management and loyalty generation. It has created a tech ecosystem allowing customers to use an array of its products, from iPhones to MacBooks to AirPods and more, constantly refreshing with upgrades and subscription services.</p>
<div class="lb-trans"><p>巴菲特曾赞扬苹果的高管团队和客户忠诚度。苹果创造了一个技术生态系统，让客户可以使用从 iPhone 到 MacBook 再到 AirPods 等一系列产品，并不断通过升级和订阅服务进行更新。</p>
</div><p>According to Counterpoint, Apple topped the smartphone industry with 52% of the smartphone shipments market in the 2024 second quarter, flat with last year, and it's expected to benefit from investments in artificial intelligence (AI).</p>
<div class="lb-trans"><p>根据 Counterpoint 的数据，苹果在 2024 年第二季度的智能手机出货市场中占据了 52% 的份额，与去年持平，并预计将从人工智能（AI）的投资中受益。</p>
</div><p>Because Apple is developing its own AI technology rather than working with a partner, like most hardware companies, iPhone users have Apple's services embedded in their devices. All of Apple's technology is interconnected and works seamlessly together across its spectrum of devices, which is why bringing users into its ecosystem is so lucrative.</p>
<div class="lb-trans"><p>因为苹果正在开发自己的 AI 技术，而不是像大多数硬件公司那样与合作伙伴合作，iPhone 用户的设备中嵌入了苹果的服务。苹果的所有技术都是相互关联的，并在其设备系列中无缝协作，这就是为什么将用户引入其生态系统如此有利可图。</p>
</div><p>Apple is the most valuable company in the world and the only one worth more than $3.5 trillion. Billionaire investors know it's a strong bet for continued dominance in its field, innovation in technology, and stock gains.</p>
<div class="lb-trans"><p>苹果是世界上最有价值的公司，也是唯一一家市值超过 3.5 万亿美元的公司。亿万富翁投资者知道这是一个在其领域持续主导、技术创新和股票收益的强大赌注。</p>
</div><h2>Billionaires versus you</h2>
<div class="lb-trans"><h2>亿万富翁与你</h2>
</div><p>What about the individual investor?</p>
<div class="lb-trans"><p>那么个人投资者呢？</p>
</div><p>Buffett and Englander have two different approaches to portfolio management. Buffett loves to say that he's not a stock picker, but a business picker. He typically holds between 45 and 50 stocks at any given time, and his favorite holding period is &#34;forever.&#34;</p>
<div class="lb-trans"><p>巴菲特和英格兰德在投资组合管理上有两种不同的方法。巴菲特喜欢说他不是选股者，而是选商业者。他通常在任何时候持有 45 到 50 只股票，他最喜欢的持有期限是 “永远”。</p>
</div><p>Englander, in contrast, holds about 6,000 stocks. He also holds many combinations of puts and calls, although Apple is his largest single-stock holding.</p>
<div class="lb-trans"><p>相比之下，英格兰德持有约 6,000 只股票。他还持有许多看跌和看涨期权的组合，尽管苹果是他最大的单只股票持仓。</p>
</div><p>Both of these investing giants continue to demonstrate tremendous confidence in Apple's future.</p>
<div class="lb-trans"><p>这两位投资巨头继续对苹果的未来表现出巨大的信心。</p>
</div><p>Apple stock still has plenty of long-term potential, and it also provides value in its dominant position and dividend. New investors may not want to make it their largest position like these money managers have, since its growth prospects are somewhat tempered by its large size and valuation, which isn't cheap right now. But it can be strong anchor stock for the long-term investor.</p>
<div class="lb-trans"><p>苹果股票仍然具有很大的长期潜力，并且在其主导地位和分红中提供了价值。新的投资者可能不想像这些资金经理那样将其作为最大的持仓，因为其增长前景在一定程度上受到其庞大规模和当前不便宜的估值的制约。但对于长期投资者来说，它可以成为一个强有力的基石股票。</p>
</div>

Warren Buffett Is Selling Apple Stock, but Billionaire Israel Englander Just Increased His Position by 68%

- 巴菲特通过伯克希尔哈撒韦大幅减持苹果股票，持仓从近 50% 降至 23%。
- 尽管减持，巴菲特仍然看好苹果，称其为优秀企业，计划长期持有。
- 苹果在 2024 年第二季度智能手机市场占有率达 52%，预计将受益于人工智能投资。

沃伦·巴菲特正在出售苹果股票，但亿万富翁以色列·英格兰德刚刚将其持仓增加了 68%