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Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.

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Peter Lynch, exgestor del fondo Fidelity Magellan y uno de los inversores más influyentes del siglo XX, confesó una vez que su mayor error en los mercados fue vender acciones ganadoras demasiado pronto.

Peter Lynch admite que la cita que inspiró a Warren Buffett fue el mayor error de su carrera

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Following a rocky April opening, thanks largely to aggressive U.S. tariff policy and economic jitters, the S&amp;P 500 has been on a surprising tear, recording its longest string of gains since 2004. 
Along for the ride are two of the most recognizable index-tracking ETFs: Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and State Street&#8217;s SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>). Though they might look very similar on the surface, recent history has highlighted some distinct differences between the two funds — differences that could be influencing investor behavior in more than one way.
<h1 class="wp-block-heading">Neck And Neck, Temporarily</h1>
VOO and SPY each picked up about 3% during the past week, fueled by healthy tech earnings, <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45164558/us-adds-177000-jobs-in-april-topping-forecasts-as-economy-navigates-tariff-impact">robust labor market reports</a>, and a collective exhalation of relief regarding <a href="https://www.benzinga.com/government/regulations/25/05/45175235/nasdaq-100-leads-wall-street-rally-as-china-signals-openness-to-fentanyl-talks-easing-trade-tensions">waning trade tensions</a>. But the path to those gains was far from smooth. Trump&#8217;s tariff rollercoaster created historic daily volatility, with the Cboe Volatility Index reaching levels not seen since 2020, in April. And in the midst of the chaos, VOO came out with more than profits, it made investor dollars at a record-breaking rate.
<h1 class="wp-block-heading">Fund Flows</h1>
In a month of wild market fluctuations, VOO <a href="https://www.bloomberg.com/news/articles/2025-05-01/vanguard-s-voo-world-s-biggest-etf-nabs-record-flows-in-april?sref=TBDibEcD">recorded </a>almost $21 billion in inflows, according to data by Bloomberg, its largest monthly total ever. This takes us back to February, when <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/02/43794873/vanguard-overtakes-state-street-as-top-etf-provider-3-funds-in-focus">VOO&#8217;s growing popularity propelled it past SPY</a> in terms of total assets. For the year to date, VOO has attracted $55 billion, while SPY has seen a net outflow of $27 billion. In blunt terms: investors appear to be voting with their wallets, and Vanguard is winning the popularity contest.
SPY, after a $2.2 billion inflow during April, is on course to record its worst year of flows since 2015, according to Bloomberg. Many find the slightly higher expense ratio of 0.095% over VOO&#8217;s very low 0.03% difficult to accept, particularly at times of turmoil.
<h1 class="wp-block-heading">Cost &amp; Liquidity: Pay More, Trade More</h1>
SPY&#8217;s primary strength continues to be its liquidity. With more than 77 million in average daily volume, it&#8217;s the most actively traded ETF in America, making it perfect for short-term traders. VOO, though still extremely liquid, averages closer to 8.6 million per day with slightly broader bid-ask spreads. 
<h1 class="wp-block-heading">Structure &amp; Efficiency</h1>
This is where the divergence becomes more distinct. SPY, the old master of ETFs, is a Unit Investment Trust (UIT). That constrains it from reinvesting dividends or lending out securities, both of which might otherwise boost returns. VOO, being an open-end fund, does both. It reinvests dividends until distributed quarterly and lends out securities to generate additional income, bolstering its aggregate return potential.
Tax efficiency also works in VOO&#8217;s favor. Its in-kind creation/redemption feature serves to keep capital gains distributions to a bare minimum, an advantage that SPY, owing to its UIT structure, cannot emulate so well.
<h1 class="wp-block-heading">The Retail Wave</h1>
While SPY continues to lead in gross trading volume, VOO is slowly gaining mindshare among individual investors. Indeed, on sites such as Interactive Brokers, VOO frequently topped the most-traded list last month, which indicates that longer-term investors are moving toward its low-cost, tax-efficient model, Bloomberg reported.
VOO and SPY both offer exposure to the same S&amp;P 500 giants Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), but they cater to different investor appetites. SPY is for the high-frequency trader who values lightning-fast execution. VOO is for the buy-and-hold investor who prefers to let compounding and low fees do the heavy lifting.
In this story of two tickers, SPY might still reign supreme in the trading pits, but VOO is quietly and quickly redefining what a heavyweight in the ETF space means.
Read Next:<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/05/45203808/etfs-last-week-tech-fueled-rally-powers-gains-during-trade-optimism"> </a> • <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/05/45203808/etfs-last-week-tech-fueled-rally-powers-gains-during-trade-optimism">ETFs Last Week: Tech-Fueled Rally Powers Gains During Trade Optimism</a>
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VOO Vs SPY: $21 Billion April Surge Puts VOO Ahead In The S&P 500 ETF Showdown

Over multiple decades, legendary investor Warren Buffett has helped produce incredible returns for conglomerate Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), often times <a href="https://www.benzinga.com/general/education/25/01/42832123/warren-buffett-beats-sp-500-in-2024-how-oracle-of-omahas-returns-compare-over-past-20-years">outperforming the S&amp;P 500.</a>
With news that Buffett <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">is stepping down</a> as Berkshire CEO at the end of the year, here's a look at the top 10 stock holdings of the Berkshire Hathaway portfolio.
Buffett Builds Berkshire Hathaway: Buffett has shaped Berkshire Hathaway from the <a href="https://www.benzinga.com/general/education/24/08/40652464/warren-buffett-celebrates-94th-birthday-with-1-trillion-market-cap-milestone-a-look-back-at-hig">early days of a textile maker </a>into a conglomerate that owns companies like Duracell, Dairy Queen, GEICO, Fruit of the Loom, Jazwares, Pilot Flying J and more.
Along with acquiring businesses outright, Buffett has also built a portfolio of large stakes in publicly traded companies over the years.
Here's a look at the current top 10 holdings of Berkshire Hathaway's stock portfolio, as reported by <a href="https://www.cnbc.com/berkshire-hathaway-portfolio/">CNBC</a>. The list includes the stock, the current value and percentage of the stock portfolio.
<ol>
<li>Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): $60.1 billion, 21.8% of the portfolio</li>
<li>American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>): $42.4 billion, 15.4%</li>
<li>Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>): $28.7 billion, 10.4%</li>
<li>Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>): $28.2 billion, 10.2%</li>
<li>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>): $16.1 billion, 5.8%</li>
<li>Moody's Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>): $11.5 billion, 4.2%</li>
<li>Occidental Petroleum Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>): $10.4 billion, 3.8%</li>
<li>Kraft Heinz Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>): $9.3 billion, 3.4%</li>
<li>Chubb Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>): $7.8 billion, 2.8%</li>
<li>Itochu Corporation: $7.1 billion, 2.6%</li>
</ol>
Together, the top 10 stocks in the Berkshire Hathaway represent 80.4% of the portfolio. Berkshire Hathaway owns stakes of 6% or more in each of the 10 companies, other than Apple. Berkshire owns around 2% of Apple.
Many of these stocks have been long-time holdings of Berkshire Hathaway added decades ago. Others, like Apple, have been added to the portfolio as Buffett's opinion on a stock or sector change.
Read Also: <a href="https://www.benzinga.com/news/management/25/05/45176283/warren-buffett-is-getting-richer-in-2025-and-its-not-because-of-apple-how-one-chinese-holding-is-helping">Warren Buffett Is Getting Richer In 2025 — And It&#8217;s Not Because Of Apple: How One Chinese Holding Is Helping</a>
Berkshire Hathaway Performance: Shares of Berkshire Hathaway hit new all-time highs on Friday ahead of the annual shareholders meeting, where Buffett surprised the crowd with his stepping down announcement.
On Monday, Berkshire Hathaway stock fell over 5% as investors grasped what the company could look like without Buffett and with the company reporting lower operating profit year-over-year.
Year-to-date, Berkshire Hathaway stock is up 13.2%, outperforming the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which is down 3.4%. Berkshire Hathaway has also outperformed the S&amp;P 500 ETF over the one-year and five-year periods.
Here's a look at the year-to-date performance of the top 10 Berkshire Hathaway holdings:
<ol>
<li>Apple: -18.2%</li>
<li>American Express: -6.5%</li>
<li>Coca-Cola Co: +15.8%</li>
<li>Bank of America: -6.8%</li>
<li>Chevron Corp: -7.7%</li>
<li>Moody's Corp: -1.7%</li>
<li>Occidental Petroleum: -21.7%</li>
<li>Kraft Heinz: -7.4%</li>
<li>Chubb Ltd: +5.7%</li>
<li>Itochu: -9.7%</li>
</ol>
Of the top 10 holdings, only two are positive year-to-date in 2025, putting more pressure on the Berkshire Hathaway non-stock holdings like the insurance and energy units, which are wholly owned, to perform well during the year.
With a changing of CEO, there is a chance that the top 10 holdings in the Berkshire Hathaway stock portfolio look significantly different at this time next year. Although, many of these stocks have been outperforming the market and helping Berkshire Hathaway produce strong returns annually.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/04/44928468/warren-buffett-believer-in-american-companies-critical-of-tariffs-the-tooth-fairy-doesnt-pay-em">Warren Buffett, Believer In American Companies, Is Critical Of Tariffs: &#8216;The Tooth Fairy Doesn&#8217;t Pay &#8216;Em&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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Warren Buffett's Giant Berkshire Portfolio: Top 10 Includes Banks, Oil, And Apple

Wall Street rebounded last week, <a href="https://www.benzinga.com/government/regulations/25/05/45178002/wall-street-fully-recoups-tariff-led-losses-economy-contracts-in-first-quarter-yet-april-payrolls-remain-strong-this-week-in-markets">reversing the losses prompted by the Trump administration&#8217;s</a> tariff attack on April 2.
Encouraged by positive trade news and a surprisingly strong beginning to earnings season, the S&amp;P 500 recorded its second consecutive weekly gain — its longest winning run since May 2024. Tech giants Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) beat forecasts, with Microsoft recording a record week. Meanwhile, deflating inflation, robust jobs data and tariff anxiety kept the surroundings abuzz.
In contrast to this macro tailwind, a few leveraged and <a href="https://www.benzinga.com/etfs">thematic ETFs took center stage</a> with spectacular gains:
Defiance Daily Target 2X Long HIMS ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIMZ#NASDAQ">HIMZ</a>) was the top performer with a stunning 91.3% weekly jump, fueled by increased investor appetite for telehealth and speculative momentum. New weight-loss medications and sustained demand from the underlying company, Hims &amp; Hers Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>), drove the rally.
MAX Airlines 3X Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETU#NYSE">JETU</a>) rose 16.2% as airline shares took off on tailwinds from an uptick in a few airline stocks.
MicroSectors FANG+ 3 Leveraged ETNs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNGB#NYSE">FNGB</a>) jumped 13.2%, boosted by mega-cap tech outperformance.
United States Natural Gas Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>) surged 10.2% on inventory drawdowns that reignited gas bulls. A drop in production output and record LNG exports led the gains, <a href="https://tradingeconomics.com/commodity/natural-gas#:~:text=Natural%20gas%20is%20expected%20to,4.26%20in%2012%20months%20time.">according </a>to Trading Economics.
Direxion Daily Uranium Bull 2X ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URAA#NYSE">URAA</a>) rose 6%, as nuclear power talk and supply issues stoked demand for the uranium sector. The fourth round of nuclear talks between Iran and the U.S., which was supposed to happen on Saturday, was postponed, bringing the sector into the spotlight.
The ETF leaderboard indicates investors aren&#8217;t only riding the rally — they&#8217;re aiming for high-octane names in spaces with both narrative pull and near-term catalysts.
Also Read: • <a href="https://www.benzinga.com/etfs/specialty-etfs/25/05/45197995/exclusive-invest-like-buffett-this-etf-ceo-is-riding-the-berkshire-hathaway-buzz">EXCLUSIVE: &#8216;Invest Like Buffett,&#8217; This ETF CEO Is Riding The Berkshire Hathaway Buzz</a>
<h1 class="wp-block-heading">What Happened Last Week</h1>
Wall Street mounted a robust recovery, erasing losses from the Trump administration&#8217;s April 2 tariff shock, due to positive trade developments and a surprisingly robust start to earnings season.
Tech giants beat forecasts, with Microsoft standing out the brightest. The S&amp;P 500 recorded a second weekly gain, its best run since May 2024.
Top performers were Arista Networks Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) and Carrier Global Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) (both +~20%).
Industrials and tech drove the rally; energy stocks fell as oil prices fell to $58, oil&#8217;s second-worst week this year. OPEC+ supply speculation and Trump saber-rattling over Iranian oil did not boost crude.
Macroeconomic news was mixed: GDP decreased 0.3% (vs. an expected 0.4% rise), yet reassuring jobs (177,000 nonfarm payrolls vs. 130,000 anticipated) and softening inflation provided cheer. Core PCE inflation came down to 2.6%.
Now, everyone&#8217;s eye is on the next Fed meeting. The rates will likely stay put, yet Fed Chair Jerome Powell&#8217;s commentary, particularly post-Trump&#8217;s renewed rate-cut pressure, is the big draw.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/05/45176609/were-not-guessing-the-market-were-managing-it-inside-tspys-bold-strategy-with-ceo-si-katara">&#8216;We&#8217;re Not Guessing The Market, We&#8217;re Managing It&#8217;: Inside TSPY&#8217;s Bold Strategy With CEO Si Katara</a></li>
</ul>
Photo: Mer_Studio/Shutterstock

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ETFs Last Week: Tech-Fueled Rally Powers Gains During Trade Optimism

Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares are trading lower Monday on continued weakness after CEO Tim Cook said the company anticipates a $900 million tariff-related hit <a href="https://www.benzinga.com/25/05/45168400/apple-stock-falls-after-cook-warns-of-900m-tariff-impact">in the June quarter.</a>
The Details: Cook said during the company&#8217;s second-quarter earnings call that, "Assuming that the current global tariff rates, policies and applications don't change for the balance of the quarter," Apple expects a $900 million increase in costs.
Cook said the majority of iPhones sold in the US will eventually be made in India, where Apple has already begun shifting production of its most profitable product.
China has long served as the primary manufacturing location for iPhones sold in the U.S. Vietnam is set to become the main production hub for Apple&#8217;s other products, including iPads, Macs, Apple Watches and AirPods sold in the US.
The company&#8217;s supply chain shift follows President Donald Trump's move to impose tariffs of up to 145% on Chinese imports.
What Else: According to <a href="https://www.bloomberg.com/news/articles/2025-05-05/apple-plans-to-sell-corporate-bonds-in-as-many-as-four-parts?embedded-checkout=true">Bloomberg</a>, Apple is planning to issue investment-grade bonds in up to four parts. The 10-year bonds are expected to price about 0.7 percentage points above Treasuries. 
It would be Apple's first bond issuance since 2023.
Related Link: <a href="https://www.benzinga.com/general/entertainment/25/05/45200209/exclusive-netflix-customers-excited-for-original-movies-squid-game-stranger-things-nfl-60-say-this-tops-2025-must-watch-list">EXCLUSIVE: Netflix Customers Excited For Original Movies, &#8216;Squid Game,&#8217; &#8216;Stranger Things,&#8217; NFL: 60% Say This Tops 2025 Must-Watch List</a>
AAPL Price Action: At the time of writing, Apple stock is trading 2.45% lower at $200.31, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro.</a>
Image: Courtesy of Apple, Inc.

Movers

Apple Stock Slides As Tariff Costs Mount, Bond Sale Planned

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/09/25</td>
<td>$115.00</td>
<td>$25.4K</td>
<td>30.9K</td>
<td>48.5K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$150.00</td>
<td>$58.9K</td>
<td>14.2K</td>
<td>12.5K</td>
</tr>
<tr>
<td>PLTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/09/25</td>
<td>$140.00</td>
<td>$33.6K</td>
<td>9.8K</td>
<td>11.6K</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/09/25</td>
<td>$100.00</td>
<td>$29.8K</td>
<td>6.6K</td>
<td>8.9K</td>
</tr>
<tr>
<td>VRNS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$45.00</td>
<td>$64.5K</td>
<td>1.3K</td>
<td>5.4K</td>
</tr>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$180.00</td>
<td>$216.2K</td>
<td>26.9K</td>
<td>5.0K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/09/25</td>
<td>$385.00</td>
<td>$77.7K</td>
<td>1.2K</td>
<td>4.2K</td>
</tr>
<tr>
<td>CORZ</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$8.00</td>
<td>$471.0K</td>
<td>8.0K</td>
<td>3.5K</td>
</tr>
<tr>
<td>AI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/09/25</td>
<td>$23.00</td>
<td>$42.8K</td>
<td>21.6K</td>
<td>2.7K</td>
</tr>
<tr>
<td>ZETA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$12.50</td>
<td>$901.6K</td>
<td>301</td>
<td>2.3K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option sweep that happens to be bearish, expiring in 4 day(s) on May 9, 2025. This event was a transfer of 128 contract(s) at a $115.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $25.4K, with a price of $198.0 per contract. There were 30978 open contracts at this strike prior to today, and today 48575 contract(s) were bought and sold. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a call option trade that happens to be neutral, expiring in 256 day(s) on January 16, 2026. This event was a transfer of 10 contract(s) at a $150.00 strike. The total cost received by the writing party (or parties) was $58.9K, with a price of $5890.0 per contract. There were 14287 open contracts at this strike prior to today, and today 12528 contract(s) were bought and sold. 
• Regarding PLTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), we observe a call option trade with neutral sentiment. It expires in 4 day(s) on May 9, 2025. Parties traded 102 contract(s) at a $140.00 strike. The total cost received by the writing party (or parties) was $33.6K, with a price of $330.0 per contract. There were 9897 open contracts at this strike prior to today, and today 11636 contract(s) were bought and sold. 
• Regarding AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we observe a call option trade with bullish sentiment. It expires in 4 day(s) on May 9, 2025. Parties traded 58 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $29.8K, with a price of $515.0 per contract. There were 6633 open contracts at this strike prior to today, and today 8940 contract(s) were bought and sold. 
• Regarding VRNS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNS#NASDAQ">VRNS</a>), we observe a call option sweep with bearish sentiment. It expires in 11 day(s) on May 16, 2025. Parties traded 287 contract(s) at a $45.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $64.5K, with a price of $225.0 per contract. There were 1373 open contracts at this strike prior to today, and today 5476 contract(s) were bought and sold. 
• For TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we notice a call option trade that happens to be bullish, expiring in 46 day(s) on June 20, 2025. This event was a transfer of 250 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $216.2K, with a price of $865.0 per contract. There were 26960 open contracts at this strike prior to today, and today 5068 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option sweep that happens to be bullish, expiring in 4 day(s) on May 9, 2025. This event was a transfer of 77 contract(s) at a $385.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $77.7K, with a price of $1008.0 per contract. There were 1237 open contracts at this strike prior to today, and today 4219 contract(s) were bought and sold. 
• Regarding CORZ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>), we observe a call option trade with bearish sentiment. It expires in 46 day(s) on June 20, 2025. Parties traded 3000 contract(s) at a $8.00 strike. The total cost received by the writing party (or parties) was $471.0K, with a price of $157.0 per contract. There were 8008 open contracts at this strike prior to today, and today 3522 contract(s) were bought and sold. 
• Regarding AI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>), we observe a call option trade with neutral sentiment. It expires in 4 day(s) on May 9, 2025. Parties traded 997 contract(s) at a $23.00 strike. The total cost received by the writing party (or parties) was $42.8K, with a price of $43.0 per contract. There were 21613 open contracts at this strike prior to today, and today 2777 contract(s) were bought and sold. 
• For ZETA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>), we notice a call option trade that happens to be bearish, expiring in 256 day(s) on January 16, 2026. This event was a transfer of 2300 contract(s) at a $12.50 strike. The total cost received by the writing party (or parties) was $901.6K, with a price of $392.0 per contract. There were 301 open contracts at this strike prior to today, and today 2303 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

Core Scientific, Inc. - Class A Common Stock

CORZ

MSTR

PLTR

VRNS

ZETA

10 Information Technology Stocks With Whale Alerts In Today's Session

WIIM

Shares of Apple are trading lower on continued weakness following Thursday's Q2 earnings report and CEO Tim Cook's statements about the impact of tariffs. Also, a report suggested that Apple plans to sell corporate bonds in as many as four parts.

<a href="https://www.theverge.com/news/661032/apple-epic-games-app-store-antitrust-ninth-circuit">https://www.theverge.com/news/661032/apple-epic-games-app-store-antitrust-ninth-circuit</a>

General

'Apple files appeal to wrest back control of its App Store'- The Verge

Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) stock was trading lower on Monday after the company announced that Warren Buffett, 94, will <a target="_blank" href="https://www.benzinga.com/25/05/45187070/warren-buffett-retires-after-decades-of-dominancefrom-tim-cook-to-mark-cuban-worlds-top-business-leaders-react-to-the-investment-icons-exit" rel="noreferrer noopener">step down as</a> CEO.
On May 4, Berkshire&#8217;s board voted to appoint Greg Abel as CEO, effective January 1, 2026, during its <a target="_blank" href="https://www.benzinga.com/news/management/25/05/45188605/youve-got-to-check-emotions-at-the-door-warren-buffett-offers-timeless-investing-wisdom-amid-market-turmoil" rel="noreferrer noopener">60th annual shareholders </a>meeting. Buffett will remain Chairman of the Board.
Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO&nbsp;Tim Cook, CNBC&#8217;s&nbsp;Jim Cramer, and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) co-founder&nbsp;Bill Gates expressed their admiration for Buffett.
Also Read: <a target="_blank" href="https://www.benzinga.com/personal-finance/25/02/43496879/elon-musk-said-warren-buffett-managed-to-create-a-great-image-as-a-kindly-grandfather-but-thinks-thats-maybe-overstating-the-case" rel="noreferrer noopener">Elon Musk Said Warren Buffett &#8216;Managed To Create A Great Image As A Kindly Grandfather&#8217; – But Thinks That&#8217;s &#8216;Maybe Overstating The Case&#8217;</a>
Despite accumulating a <a target="_blank" href="https://www.benzinga.com/markets/25/05/45190271/warren-buffett-and-charlie-mungers-timeless-wisdom-draws-bill-ackmans-praise-this-is-a-great-book-key-les" rel="noreferrer noopener">record $348 billion</a> cash reserve, Buffett said he is ready to deploy $20 billion or even $100 billion&nbsp;given the right opportunity.
This cash position follows Berkshire&#8217;s sale of two-thirds of its Apple position last year. Buffett has also signaled conviction in&nbsp;Berkshire&#8217;s $20 billion Japanese trading companies.
In the <a target="_blank" href="https://www.benzinga.com/news/earnings/25/05/45183890/berkshire-hathaways-q1-2025-earnings-plunge-amid-tariff-concerns-operating-profit-fell-14-cash-hit-a-record" rel="noreferrer noopener">first quarter of&nbsp;2025</a>,&nbsp;Berkshire Hathaway&#8217;s operating earnings fell 14% to $9.64&nbsp;billion. The result was driven by a 48.6% plunge&nbsp;in insurance-underwriting profit, which&nbsp;came in at $1.34 billion&nbsp;for the first quarter, down&nbsp;from $2.60 billion a year&nbsp;prior. Berkshire attributed this to the Southern California wildfires, which&nbsp;led to a $1.1 billion&nbsp;loss in the first quarter. The company also&nbsp;suffered a ~$713 million&nbsp;loss related to foreign exchange due to&nbsp;the dollar losing value.
Price Action: BRK/A stock was down 4.37% at the last check on Monday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/price-target/25/05/45155666/robinhood-stock-falls-after-analysts-cite-weak-crypto-volumes-and-market-headwinds-in-q2-outlook" target="_blank" rel="noreferrer noopener">Robinhood Stock Falls After Analysts Cite Weak Crypto Volumes And Market Headwinds In Q2 Outlook</a></li>
</ul>
Photo courtesy: mark reinstein via Shutterstock

Management

Berkshire Hathaway Stock Falls Following Buffett's Retirement As CEO

Amidst today's fast-paced and highly competitive business environment, it is crucial for investors and industry enthusiasts to conduct comprehensive company evaluations. In this article, we will delve into an extensive industry comparison, evaluating Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in comparison to its major competitors within the Technology Hardware, Storage &amp; Peripherals industry. By analyzing critical financial metrics, market position, and growth potential, our objective is to provide valuable insights for investors and offer a deeper understanding of company's performance in the industry.
<h3>Apple Background</h3>
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>Apple Inc</td>
<td>31.99</td>
<td>45.92</td>
<td>7.80</td>
<td>37.11%</td>
<td>$45.91</td>
<td>$58.27</td>
<td>-23.28%</td>
</tr>
<tr>
<td>Hewlett Packard Enterprise Co</td>
<td>8.11</td>
<td>0.88</td>
<td>0.73</td>
<td>2.39%</td>
<td>$1.11</td>
<td>$2.29</td>
<td>16.27%</td>
</tr>
<tr>
<td>Super Micro Computer Inc</td>
<td>14.66</td>
<td>3.22</td>
<td>1.02</td>
<td>5.29%</td>
<td>$0.4</td>
<td>$0.67</td>
<td>54.93%</td>
</tr>
<tr>
<td>NetApp Inc</td>
<td>17.10</td>
<td>19.15</td>
<td>2.99</td>
<td>31.69%</td>
<td>$0.45</td>
<td>$1.15</td>
<td>2.18%</td>
</tr>
<tr>
<td>Pure Storage Inc</td>
<td>154.32</td>
<td>11.94</td>
<td>5.17</td>
<td>3.12%</td>
<td>$0.09</td>
<td>$0.59</td>
<td>11.4%</td>
</tr>
<tr>
<td>Western Digital Corp</td>
<td>11.46</td>
<td>3</td>
<td>1.47</td>
<td>5.86%</td>
<td>$0.96</td>
<td>$1.52</td>
<td>-46.46%</td>
</tr>
<tr>
<td>Eastman Kodak Co</td>
<td>7.07</td>
<td>0.80</td>
<td>0.56</td>
<td>2.46%</td>
<td>$0.05</td>
<td>$0.05</td>
<td>-3.27%</td>
</tr>
<tr>
<td>Turtle Beach Corp</td>
<td>13.35</td>
<td>1.74</td>
<td>0.58</td>
<td>18.11%</td>
<td>$0.03</td>
<td>$0.05</td>
<td>46.76%</td>
</tr>
<tr>
<td>Average</td>
<td>32.3</td>
<td>5.82</td>
<td>1.79</td>
<td>9.85%</td>
<td>$0.44</td>
<td>$0.9</td>
<td>11.69%</td>
</tr>
</tbody>
</table>
<style>
 table {
 width: 100%;
 border-collapse: collapse;
 font-family: Arial, sans-serif;
 font-size: 14px;
 }

 th, td {
 padding: 8px;
 text-align: left;
 }

 th {
 background-color: #293a5a;
 color: #fff;
 text-align: left;
 }

 tr:nth-child(even) {
 background-color: #f2f4f8;
 }

 tr:hover {
 background-color: #e1e4ea;
 }

 td:nth-child(3), td:nth-child(5) {
 text-align: left;
 }

 .dividend-amount {
 font-weight: bold;
 color: #0d6efd;
 }

 .dividend-frequency {
 font-size: 12px;
 color: #6c757d;
 }
 </style>Through a thorough examination of Apple, we can discern the following trends: 
<ul>
<li>
The stock's Price to Earnings ratio of 31.99 is lower than the industry average by 0.99x, suggesting potential value in the eyes of market participants.
</li>
<li>
It could be trading at a premium in relation to its book value, as indicated by its Price to Book ratio of 45.92 which exceeds the industry average by 7.89x.
</li>
<li>
With a relatively high Price to Sales ratio of 7.8, which is 4.36x the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
The company has a higher Return on Equity (ROE) of 37.11%, which is 27.26% above the industry average. This suggests efficient use of equity to generate profits and demonstrates profitability and growth potential.
</li>
<li>
With higher Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $45.91 Billion, which is 104.34x above the industry average, the company demonstrates stronger profitability and robust cash flow generation.
</li>
<li>
The company has higher gross profit of $58.27 Billion, which indicates 64.74x above the industry average, indicating stronger profitability and higher earnings from its core operations.
</li>
<li>
The company is witnessing a substantial decline in revenue growth, with a rate of -23.28% compared to the industry average of 11.69%, which indicates a challenging sales environment.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1746457227_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio measures the financial leverage of a company by evaluating its debt relative to its equity.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
In light of the Debt-to-Equity ratio, a comparison between Apple and its top 4 peers reveals the following information:
<ul>
<li>
Apple falls in the middle of the list when considering the debt-to-equity ratio.
</li>
<li>
This indicates that the company has a moderate level of debt relative to its equity with a debt-to-equity ratio of 1.47, suggesting a balanced financial structure with a reasonable debt-equitymix.
</li>
</ul>
<h3>Key Takeaways</h3>
For Apple in the Technology Hardware, Storage &amp; Peripherals industry, the PE, PB, and PS ratios indicate that the stock is relatively undervalued compared to its peers. However, the high ROE, EBITDA, gross profit, and low revenue growth suggest that Apple is efficiently utilizing its resources and generating strong profits, despite slower revenue growth. Overall, Apple's financial performance is solid, with room for potential growth in the future.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exploring The Competitive Space: Apple Versus Industry Peers In Technology Hardware, Storage &amp; Peripherals

Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) might be Berkshire Hathaway Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) biggest holding today, but it's far from <a href="https://www.benzinga.com/topic/warren-buffett">being Warren Buffett</a>'s oldest flame.
While Apple accounts for over 28% of Berkshire's portfolio, Buffett only began buying it in the first quarter of 2016. That makes it a relative newcomer compared to three other iconic names Buffett picked up way back in the first quarter of 2001 &#8211; and still hasn't let go of. 
With the Berkshire Hathaway portfolio holding onto these shares for over two decades, these positions reveal how Buffett's best investments aren't always the flashiest &#8211; they're the most enduring.
Read Also: <a href="https://www.benzinga.com/news/earnings/25/05/45187521/warren-buffett-says-he-is-embarrassed-but-tim-cook-has-made-berkshire-a-lot-more-money-than-ive-ever-made">Warren Buffett Says He Is &#8216;Embarrassed,&#8217; But &#8216;Tim Cook Has Made Berkshire A Lot More Money Than I&#8217;ve Ever Made&#8217;</a>
<h2 class="wp-block-heading">Buffett's Wallet Staple</h2>
As of the fourth quarter of 2024, Berkshire owns 151.6 million shares of American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), now worth nearly $45 billion, making it Buffett's #2 holding at 16.84% of the portfolio.
Buffett's enduring confidence is underlined by a whopping 21.5% ownership stake in the company. Amex's brand loyalty and capital-light business model make it the quintessential Buffett stock &#8211; durable, predictable, and slow to leave the wallet.
<h2 class="wp-block-heading">The Underrated Winner</h2>
Moody's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) doesn't make headlines like Apple or Coke, but it's been compounding quietly in Buffett's portfolio for 24 years. Berkshire owns nearly 25 million shares, worth $11.7 billion, or 4.37% of the portfolio.
It's a classic Buffett play: pricing power, industry dominance and little need for reinvestment.
<h2 class="wp-block-heading">The OG Buffett Bet</h2>
Buffett might be most associated with Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), and for good reason. Berkshire owns 400 million shares, valued at nearly $25 billion, making up 9.32% of the portfolio.
He once called Coke's brand "the most valuable franchise in the world" &#8211; and clearly, he's still sipping.
Apple may rule today's headlines, but these three 24-year veterans quietly built Buffett's empire &#8211; one quarter at a time.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/25/05/45187313/warren-buffett-and-his-successor-greg-abel-say-berkshire-hathaway-could-hold-this-20b-bet-for-50-years-or-forever">Warren Buffett And His Successor Greg Abel Say Berkshire Hathaway Could Hold This $20B Bet For &#8217;50 Years Or Forever&#8217;</a></li>
</ul>
Image: Shutterstock

Long Ideas

Hedge Funds

3 Stocks Warren Buffett First Bought 24 Years Ago (Hint: Apple's Not One Of Them)'

In a week dominated <a href="https://www.benzinga.com/earnings">by earnings buzz</a>, a seismic shift in the app economy flew under the radar: a federal court gutted Apple Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) 27% commission on alternative in-app payments &#8211; handing Epic a big win and developers a rare moment of leverage.
JPMorgan analyst Cory A. Carpenter says the ruling didn't get nearly the attention it deserved.
Read Also: <a href="https://www.benzinga.com/markets/25/05/45185355/apple-braces-for-900-million-tariff-impact-tim-cook-discusses-potential-iphone-manufacturing-shift-to-us-with-lutnick-and-more-this-week-in-appleverse">Apple Braces For $900 Million Tariff Impact, Tim Cook Discusses Potential iPhone Manufacturing Shift To US With Lutnick And More: This Week In Appleverse</a>
<h2 class="wp-block-heading">Epic Gets The Last Laugh &#8211; For Now</h2>
After a multi-year legal saga, Apple's attempt to cling to commissions on external payments has unraveled. The latest ruling declares that Apple cannot charge a commission on alternative payments, effective immediately. That's already materialized in Spotify Technology SA's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) latest app update, which Carpenter notes was approved without commission fees.
Developers are expected to jump on the opportunity. We expect &#8220;developers to flood the app store with similar updates in the coming days," said Carpenter.
Apple is appealing the decision. But unlike before, it must comply in the meantime—developers have at least two months to implement zero-commission alternatives unless the Ninth Circuit grants a stay.
<h2 class="wp-block-heading">Google: The Chill Bystander</h2>
Meanwhile, "Google Play transactions are not impacted by this ruling." That's because Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google already offers its "User Choice" billing in many countries, with slightly lower fees &#8211; 11% for subscriptions and 26% for in-app purchases.
Carpenter points out that "Google's subscription service fee of 15% is already half that of Apple's 30% service fee."
<h2 class="wp-block-heading">Margin Gains Incoming?</h2>
If the ruling holds, developers stand to benefit. Carpenter estimates annual margin boosts of:
<ul>
<li>Match Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>)/Bumble Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bmbl#NASDAQ">BMBL</a>): 3–6%</li>
<li>Take-Two Interactive Software, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ttwo#NASDAQ">TTWO</a>): 1–2%</li>
<li>Electronic Arts Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>): ~0.5%</li>
<li>Playstudios Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/myps#NASDAQ">MYPS</a>): 3–7%</li>
</ul>
AppLovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) may also gain indirectly as developers redirect savings to user acquisition.
A decision on the stay could take two months. But for now, the power dynamic has shifted &#8211; if only temporarily.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/25/05/45189765/sp-rally-may-be-topping-out-dan-niles-warns-amid-demand-pull-in-economic-uncertainty-and-sell-the-news-risk">S&amp;P Rally May Be Topping Out, Dan Niles Warns, Amid Demand Pull-In, Economic Uncertainty, And &#8216;Sell The News&#8217; Risk</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Penny Stocks

Small Cap

BMBL

MTCH

MYPS

SPOT

TTWO

Apple's 27% Fee Cut Is Good News For Epic, App Developers, Google Remains Unaffected

<a href="https://www.bloomberg.com/news/articles/2025-05-05/apple-plans-to-sell-corporate-bonds-in-as-many-as-four-parts" title="https://www.bloomberg.com/news/articles/2025-05-05/apple-plans-to-sell-corporate-bonds-in-as-many-as-four-parts">https://www.bloomberg.com/news/articles/2025-05-05/apple-plans-to-sell-corporate-bonds-in-as-many-as-four-parts</a>

Financing

"Apple Plans To Sell Corporate Bonds In As Many As Four Parts; Apple Is Planning To Sell Investment-Grade Bonds On Monday For The First Time In Two Years" - Bloomberg News

Jim Anderson, the freshly appointed chief executive of laser‑equipment maker Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>), tops the 2024 leaderboard for CEO pay with a staggering $101.5 million package — the only nine‑figure haul in a new study that looked at CEO compensation structures across American companies with a revenue of $1 billion and more.
What Happened: According to the Equilar 100 <a href="https://www.equilar.com/reports/116-highest-paid-ceos-2025-equilar-100.html">study</a>, Anderson joined the Saxonburg, Pa., firm in June 2024 with a pro‑rated cash salary of just $81,538 and a $500,000 signing bonus, but Coherent's board sweetened the pot with more than $100 million in stock awards, according to its proxy filing. 
He edges out Starbucks boss Brian Niccol, who collected $95.8 million, and eclipses marquee names such as Microsoft Corp's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Satya Nadella ($79.1 million), Apple's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Tim Cook ($74.6 million) and Disney's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Bob Iger ($40.6 million).
See also: <a href="https://www.benzinga.com/news/management/25/05/45190886/steve-jobs-warned-the-difference-between-good-and-great-software-engineers-is-50to1-admitted-firing-non-performers-was-very-painful-yet-necessary">Steve Jobs Warned The Difference Between Good And Great Software Engineers Is &#8217;50‑To‑1,&#8217; Admitted Firing Non-Performers Was &#8216;Very Painful&#8217; Yet Necessary</a>
Equilar's snapshot, which reviews proxy statements filed through March 31, pegs median CEO compensation at $25.6 million, up 9.5% from a year earlier. Sky‑high equity grants are doing the heavy lifting: median stock awards jumped 40.5% and now account for nearly three‑quarters of total pay.
What To Know: A rather recent report from Oxfam warns that global <a href="https://www.benzinga.com/news/25/05/45127511/ceo-pay-surges-50-since-2019-as-worker-wages-stall-oxfam-calls-for-75-tax-on-super-rich-ahead-of-international-workers-day">income inequality</a> is widening. CEOs now earn 50% more in real terms than they did in 2019, while rank‑and‑file wages barely budged.
In a joint study with the International Trade Union Confederation, the charity examined nearly 2,000 firms in 35 countries and found that average chief executive pay hit $4.3 million in 2024, up from $2.9 million five years ago after inflation. 
Workers, by contrast, saw their paychecks edge up just 0.9% over the same span. The researchers pulled full compensation packages — including bonuses and stock options — from the S&amp;P Capital IQ database and called for sweeping reforms to what they deem a system "rigged for the ultra‑rich."
Separate data only <a href="https://www.benzinga.com/news/global/25/04/45061885/elon-musk-warren-buffett-jeff-bezos-and-16-us-households-gained-1-trillion-in-2024-an-amount-larger-than-switzerlands-entire-economy">highlight the gap</a>: only 19 U.S. households — among them Elon Musk, Warren Buffett and Jeff Bezos — added a collective $1 trillion to their net worth last year.
Image via Shutterstock
Read next: <a href="https://www.benzinga.com/markets/25/05/45190271/warren-buffett-and-charlie-mungers-timeless-wisdom-draws-bill-ackmans-praise-this-is-a-great-book-key-lessons-inside">Warren Buffett And Charlie Munger&#8217;s Timeless Wisdom Draws Bill Ackman&#8217;s Praise: &#8216;This Is A Great Book&#8217;</a>

COHR

Highest Paid CEO In America Bagged A Nine-Figure Package Beating Tim Cook, Satya Nadella And Bob Iger

Two years before he returned to rescue Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Steve Jobs argued that hiring "only A players" is the single biggest lever in tech.
What Happened: In a newly resurfaced clip of a 1995 interview for the Computerworld Information Technology Awards, <a href="https://www.youtube.com/watch?v=Ci3ZKHxQhSM">clipped</a> by Startup Archive, the then NeXT Computer chief said, "the difference between good people and great people in software is 50‑to‑1." 
Jobs maintained that while taxi drivers or cooks vary by a factor of two or three, "the difference between the best person and the worst person [in software] is about 100‑to‑1 or more." He saw his personal job as "to keep the quality level of people in the organizations I work with very high … the goal of having only A players."
Jobs conceded that the strategy carries a human cost. "It's very painful when you have some people that are not the best … and you have to get rid of them," he said, but insisted the payoff in innovation justifies tough calls.
See also: <a href="https://www.benzinga.com/25/05/45183418/are-left-handed-ceos-like-steve-jobs-and-mark-zuckerberg-wired-for-innovation-new-research-says-they-lead-more-creative-profitable-companies">Are Left-Handed CEOs Like Steve Jobs, Bill Gates And Mark Zuckerberg Wired For Innovation? New Research Says They Lead More Creative, Profitable Companies</a>
At the time, Jobs was steering NeXT, the workstation maker he founded after leaving Apple in 1985. The company's advanced NeXTSTEP operating system later became the technical foundation of Mac OS X when Apple bought NeXT for roughly $429 million in cash and stock on Dec. 20, 1996 — a deal that <a href="https://www.benzinga.com/general/education/17/01/8884660/why-rehiring-steve-jobs-was-the-best-move-apple-ever-made">brought Jobs back</a> to Cupertino and ultimately to the CEO chair.
Why It Matters: Elon Musk watched the clip a while back and <a href="https://www.benzinga.com/news/24/03/38013068/tesla-ceo-elon-musk-reacts-to-apple-co-founder-steve-jobs-on-finding-top-talent-you-build-up-these-p">quickly agreed</a> with Steve Jobs on the need to hire only "A‑players." Musk has followed that playbook while building PayPal, Tesla, SpaceX, xAI and co‑founding OpenAI, now a frontrunner in artificial intelligence.
Jobs maintained that once leaders gather top‑tier talent, the team largely runs itself. He dismissed the idea that experience alone signals quality: in a 1985 interview, he <a href="https://www.benzinga.com/startups/25/01/42858542/steve-jobs-said-hiring-seasoned-professionals-at-apple-didnt-work-because-most-of-them-were-bozos-who-didnt-know-how-to-do-anything">blasted</a> Apple's early "professional" managers, saying, "Most of them were bozos. They knew how to manage, but they didn't know how to do anything. And so if you're a great person, why do you want to work for somebody you can't learn anything from?"
Image via Kemarrravv13/ Shutterstock
Read next: <a href="https://www.benzinga.com/25/05/45187521/buffett-tips-his-hat-to-tim-cooks-leadership-at-apple-he-has-made-berkshire-a-lot-more-money-than-ive-ever-made">Warren Buffett Says He Is &#8216;Embarrassed,&#8217; But &#8216;Tim Cook Has Made Berkshire A Lot More Money Than I&#8217;ve Ever Made&#8217;</a>

Steve Jobs Warned The Difference Between Good And Great Software Engineers Is '50‑To‑1,' Admitted Firing Non-Performers Was 'Very Painful' Yet Necessary

Fund manager Dan Niles suggests the recent stock market rally may be running out of steam as pull-forward demand artificially boosted first-quarter results and economic uncertainties mount.
What Happened:&nbsp; Niles, founder of Niles Investment Management, shared on X that the S&amp;P 500, as tracked by&nbsp;SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) has rallied 14% from its April 8 lows through May 2, driven by &#8220;better than feared guidance during earnings season and hopes of 90 trade deals in 90 days.&#8221;
However, he now believes &#8220;there is not much upside left to this rally,&#8221; noting troubling signs as even strong performers like Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) declined on Friday despite beating quarterly expectations.
&#8220;It would not surprise me if the actual announcements turned into sell the news events,&#8221; Niles wrote. 
Niles highlighted the staggering 41% year-over-year increase in imports reported in first-quarter Gross Domestic Product data, suggesting significant demand pull-in ahead of tariffs that &#8220;will eventually need to be paid back in future quarters.&#8221;
He drew parallels to previous bear market rallies, noting the S&amp;P had 11 rallies of 10% on average during the Global Financial Crisis while ultimately losing 57% over 18 months.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">While I started the year with cash as my leading pick given my concerns entering the year, on April 7th I did a CNBC interview that was titled "Might see a short-term bounce, but still cautious long-term, says investor Dan Niles." On April 9th, the 90 day pushback on tariffs by…
&mdash; Dan Niles (@DanielTNiles) <a href="https://twitter.com/DanielTNiles/status/1919186444301508709?ref_src=twsrc%5Etfw">May 5, 2025</a></blockquote>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/05/45188268/palantir-climbs-above-126-in-overnight-robinhood-trading-so-many-bears-out-there-says-lawrence-mcdonald">Palantir Climbs Above $126 In Overnight Robinhood Trading: &#8216;So Many Bears Out There,&#8217; Says Lawrence McDonald</a>
Why It Matters:&nbsp;The market slide could present a buying opportunity for a &#8220;<a href="https://www.benzinga.com/25/03/44135699/big-tech-slide-an-opportunity-to-buy-amid-selloff-analyst-highlights-bigger-fundamental-concerns-amid-the-possibility-of-technical-bounce-back">technical bounce back</a>,&#8221; though Niles maintains &#8220;fundamental concerns for the longer-term,&#8221; according to his previous statements.
With the S&amp;P&#8217;s trailing price-to-earnings ratio now at 24 times and economic uncertainty &#8220;higher today than back then,&#8221; Niles believes earnings estimates will ultimately decline for the second half of 2025.
Niles previously excluded all &#8220;Magnificent 7&#8221; tech giants from his top stock picks for 2025, citing &#8220;disappointing first-quarter earnings outlook&#8221; among his reasons.
He also pointed to Berkshire Hathaway Inc. growing its cash position to $348 billion while being a net seller of stocks for 10 straight quarters, reflecting &#8220;caution also on Warren Buffett&#8216;s part.&#8221;
Among tech leaders, Niles <a href="https://www.benzinga.com/25/03/44135699/big-tech-slide-an-opportunity-to-buy-amid-selloff-analyst-highlights-bigger-fundamental-concerns-amid-the-possibility-of-technical-bounce-back">has previously noted</a> that &#8220;&#8216;Magnificent 7&#8217; tech giants have fallen from grace in 2025.&#8221; 
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Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.

S&P Rally May Be Topping Out, Dan Niles Warns, Amid Demand Pull-In, Economic Uncertainty, And 'Sell The News' Risk

Warren Buffett made headlines at Berkshire Hathaway Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) 60th annual shareholders meeting with plans to step down as CEO and insights on market volatility, as the conglomerate&#8217;s value reached a record $1.16 trillion despite broader market declines.
What Happened: Buffett, 94, announced he would hand over the reins to Greg Abel by year-end while maintaining his ownership stake in Berkshire Hathaway. 
The legendary investor, who appeared in good health despite using a cane, downplayed recent market volatility. &#8220;What has happened in the last 30, 45, 100 days is really nothing,&#8221; Buffett said. &#8220;This is not a huge move. This has not been a dramatic bear market or anything of the sort.&#8221;
Berkshire&#8217;s stock has climbed about 19% this year while the S&amp;P 500 has fallen 3.3%. The conglomerate now holds approximately $347 billion in cash, exceeding the cash holdings of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
Over the past year, Berkshire has <a href="https://www.benzinga.com/markets/equities/24/09/41017420/warren-buffett-moves-berkshire-hathaway-reduces-bank-of-america-holdings-by-863m">reduced its Apple holdings from 915 million shares</a> to 300 million and trimmed Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) from 1 billion to 680 million shares. See also: <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/05/45187836/dave-ramsey-blasts-budget-slackers-who-bail-on-401ks-during-market-turmoil-shortterm-temper-tantrums">Dave Ramsey Blasts Budget Slackers Who Bail On 401(k)s During Market Turmoil: &#8216;Short‑Term Temper Tantrums&#8217;</a>
Why It Matters: Buffett&#8217;s succession plan marks the end of an era for one of the world&#8217;s successful investors, while his market outlook provides valuable <a href="https://www.benzinga.com/markets/25/05/45185954/want-to-invest-like-warren-buffett-heres-what-youre-probably-missing">perspective for investors navigating uncertainty</a>.
Drawing on six decades of experience that included three periods when Berkshire&#8217;s stock halved, Buffett emphasized emotional discipline. &#8220;People have emotions, but you&#8217;ve got to check them at the door when you invest,&#8221; he advised.
His patient approach with Berkshire&#8217;s substantial cash reserves signals strategic positioning, as he anticipates the company will eventually be &#8220;bombarded with offerings that we will be glad we have the cash for&#8221;—a reminder to investors that maintaining liquidity during volatility can create future advantages. Read Next: 
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/25/05/45187820/tyson-foods-ford-and-3-stocks-to-watch-heading-into-monday"> </a>

'You've Got To Check Emotions At The Door:' Warren Buffett Offers Timeless Investing Wisdom Amid Market Turmoil

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) users who believe Siri may have <a href="https://www.benzinga.com/tech/25/01/42890955/apple-clarifies-siri-privacy-policies-after-95-million-settlement:">secretly recorded private conversations</a> now have a chance to get compensated—if they act quickly.
What Happened: Eligible consumers began receiving emails titled "Lopez Voice Assistant Class Action Settlement," informing them they may be entitled to part of the settlement, <a href="https://appleinsider.com/articles/25/05/04/iphone-owners-emailed-to-apply-for-siri-privacy-lawsuits-95m-settlement?utm_medium=social&amp;utm_source=rss&amp;utm_medium=Sendible&amp;utm_campaign=RSS">reported</a> AppleInsider on Saturday, citing an email seen by the publication.
To qualify, individuals must have owned or purchased a Siri-enabled device in the U.S. between Sept. 17, 2014, and Dec. 31, 2024, and believe Siri recorded private conversations without their intent.
Apple <a href="https://www.benzinga.com/news/global/25/01/42780075/apple-settles-95-million-lawsuit-over-siri-privacy-violations-affected-users-to-receive-up-to-20-per-device">agreed to a $95 million settlement</a> to resolve this class-action lawsuit in January 2025. While $95 million sounds significant, it will be reduced by legal and administrative costs.
See Also: <a href="https://www.benzinga.com/media/25/05/45187563/apple-plans-major-iphone-launch-overhaul-with-biannual-release-schedule-starting-2026-report">Apple To Split iPhone Launches Starting 2026, Foldable Model May Debut With iPhone 18 Pro: Report</a>
Eligible individuals can claim compensation for up to five Siri-enabled devices, capped at $20 per device. This means users may receive as much as $100, though the actual payout will depend on how many claims are submitted.
Claims must be filed by July 2, 2025, either online or via mail. Users will need a Claim ID and Confirmation Code provided in the notification email, though alternative instructions exist for those who didn't receive a code but believe they qualify.
Consumers can also object to or opt out of the settlement by the same July 2 deadline. A final court approval hearing is scheduled for Aug. 1, 2025, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It's Important: The lawsuit claimed that Siri-enabled devices were activated accidentally, capturing sensitive discussions and being reviewed by third-party contractors.
Despite the settlement, Apple continues to deny any wrongdoing, stating the agreement is not an admission of liability.
In late 2023, Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google agreed to a <a href="https://www.benzinga.com/news/23/12/36296656/google-agrees-to-700m-settlement-in-antitrust-case-promises-play-store-policy-revisions">$700 million settlement</a> in a separate case involving unauthorized recordings made by its voice assistant.
Apple reported <a href="https://www.benzinga.com/news/earnings/25/05/45152493/apple-reports-strong-q2-earnings-revenue-beat-eps-beat-installed-base-hits-all-time-high-across-all-segments-100-billion-buyback-and-more">fiscal second-quarter revenue</a> of $95.36 billion, surpassing Wall Street's forecast of $94.53 billion. For the June quarter, the company anticipates revenue growth in the low-to-mid-single-digit range, with an expected gross margin between 45.5% and 46.5%.
Price Movement: Apple shares fell by 3.74% in Friday's regular trading and dropped an additional 0.15% in after-hours, closing at $205.04, based on <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
As per Benzinga Edge&#8217;s Stock Rankings, Apple has a growth score of 44.92% and a momentum score of 77.92%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it compares to</a> Alphabet and other top tech stocks.
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Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.
Image Via Shutterstock

iPhone Users Invited To Claim Share Of Apple's $95 Million Privacy Lawsuit Settlement: How To Know If You're On The List

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly planning a significant shift in its iPhone release strategy, beginning with the iPhone 18 series in 2026.
What Happened: According to three unnamed supply chain sources under the new approach, Apple would release its high-end models, such as the iPhone 18 Pro and iPhone 18 Pro Max, in the fall.&nbsp;The more affordable models like the base iPhone 18, iPhone 18 Slim and iPhone 18e would follow in the spring of 2027, reported Engadget on Sunday (<a href="https://www.theinformation.com/articles/apple-plans-iphone-release-schedule-shakeup-new-styles">via</a> The Information).
The report also suggests Apple could debut its long-rumored foldable iPhone alongside the Pro models in fall 2026.
See Also:&nbsp;<a href="https://www.benzinga.com/25/04/44855242/charlie-munger-once-highlighted-how-warren-buffetts-lifelong-learning-made-berkshire-hathaways-success-possible-and-the-crucial-lesson-you-can-take-from-it" target="_blank" rel="noreferrer noopener">Charlie Munger Once Said Warren Buffett Is A ‘Learning Machine&#8217; And That&#8217;s What Lies Beneath Berkshire Hathaway&#8217;s Success From One Decade To Another</a>
This marks a major departure from Apple's current release strategy, which traditionally sees all new iPhone models unveiled together every September.
While Apple has stuck to a fall release window since the iPhone 5 in 2012, it has shown some signs of schedule flexibility. The iPhone SE line typically debuted in the spring, and Apple released the iPhone 16e <a href="https://www.benzinga.com/tech/25/02/43903365/apple-ditches-budget-smartphone-segment-with-iphone-16e-launch">in February 2025</a>—possibly as a replacement for the SE range, the report said.
For now, Apple is expected to stick with its traditional four-model launch for the iPhone 17 <a href="https://www.benzinga.com/25/04/44917129/apple-ceo-tim-cook-gets-anxious-over-this-issue-threatening-the-inventory-of-iphone-17-he-is-pushing-suppliers-every-day">series this September</a>.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It&#8217;s Important: Apple reported <a href="https://www.benzinga.com/news/earnings/25/05/45152493/apple-reports-strong-q2-earnings-revenue-beat-eps-beat-installed-base-hits-all-time-high-across-all-segments-100-billion-buyback-and-more">fiscal second-quarter revenue</a> of $95.36 billion, beating Wall Street's estimate of $94.53 billion. Looking ahead to the June quarter, the company expects revenue to grow in the low-to-mid-single-digit range, with a projected gross margin between 45.5% and 46.5%.
iPhone sales came in at $46.84 billion, up from $45.96 billion in the same quarter last year.
During the earnings call, Apple CEO Tim Cook said the company anticipates a<a href="https://www.benzinga.com/news/25/05/45179101/apple-ceo-tim-cook-warns-of-900-million-tariff-impact-in-june-quarter-expects-majority-of-iphones-so"> $900 million cost impact</a> from tariffs in the June quarter.
Price Action: Apple shares dropped 3.74% during Friday's regular trading session and slipped another 0.15% in after-hours trading, ending the day at $205.04, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
According to Benzinga Edge's Stock Rankings, Apple holds a growth score of 44.92% and a momentum score of 77.92%. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against other leading tech stocks</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with&nbsp;the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was&nbsp;reviewed and published by Benzinga editors.
Image Via shutterstock

Apple To Split iPhone Launches Starting 2026, Foldable Model May Debut With iPhone 18 Pro: Report

In what was likely the final Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) annual shareholders meeting with Warren Buffett at the helm, the legendary investor made a rare public acknowledgment, praising an executive in attendance who has played a significant role in shaping Berkshire's financial performance in recent years.
What Happened: On Saturday, during his opening remarks at Berkshire&#8217;s annual shareholders meeting, Buffett took a moment to publicly praise Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook, who was in the audience.
Buffett said that he had listened to Apple's first-quarter earnings call on Thursday, adding that it's the only quarterly earnings call he tunes into, underscoring the importance he places on the company, which is still Berkshire&#8217;s largest holding <a href="https://benzinga.com/news/earnings/25/02/43756510/berkshire-hathaway-adjusts-portfolio-keeps-apple-stake-unchanged-offloads-stakes-in-bofa">valued at $75 billion</a>.
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&#8220;I'm somewhat embarrassed to say that Tim Cook has made Berkshire a lot more money than I've ever made,&#8221; Buffett told the audience, referencing the remarkable 680% surge in Apple's stock since Berkshire first began acquiring shares in early 2016.
He also reflected on the late Steve Jobs, crediting him for building Apple, but credited Cook for turning the company into what it is today. &#8220;Nobody but Steve could have created Apple, but nobody but Tim could have developed it as he has,&#8221; he said. 
&#8220;Steve picked Tim to succeed him, and he really made the right decision,&#8221; Buffett said, as the Oracle of Omaha prepares to <a href="https://www.benzinga.com/25/05/45184410/warren-buffett-to-step-down-as-berkshire-hathaway-ceo-by-end-of-year-asks-board-to-confirm-greg-abel-as-successor">hand over the reins</a> to his own successor, Greg Abel, later this year.
Why It Matters: In 2024, Berkshire&#8217;s <a href="https://benzinga.com/25/05/45184648/warren-buffett-held-72-billion-in-apple-stock-but-still-used-a-20-samsung-flip-phone-i-dont-throw-anything-away-until-ive-had-it-25-years">stake in Apple</a> was valued at $174 billion, which the company had <a href="https://www.benzinga.com/25/04/44700934/warren-buffett-says-the-single-most-important-trait-in-a-business-is-pricing-power-if-you-need-a-prayer-to-raise-prices-its-a-terrible-business">acquired for $40 billion</a> over several years. 
The conglomerate has, however, been <a href="https://benzinga.com/25/05/45184648/warren-buffett-held-72-billion-in-apple-stock-but-still-used-a-20-samsung-flip-phone-i-dont-throw-anything-away-until-ive-had-it-25-years">shedding its holdings</a> in the company throughout the past year, having sold nearly 70% of the 905 million shares it held at its peak. 
Berkshire reported its <a href="https://www.benzinga.com/news/earnings/25/05/45183890/berkshire-hathaways-q1-2025-earnings-plunge-amid-tariff-concerns-operating-profit-fell-14-cash-hit-a-record">first quarter results</a> on Saturday, with operating profits during the quarter taking a 14% plunge to $9.64 billion, amid a dip in underwriting profits owing to wildfires in Southern California. 
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Earnings

Warren Buffett Says He Is 'Embarrassed,' But 'Tim Cook Has Made Berkshire A Lot More Money Than I've Ever Made'

What began quietly years ago has grown into a defining long-term play for Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), as the company signals no intention of slowing down or reassessing its $20 billion bet on Japanese trading companies, amid a changing macro climate. 
What Happened: On Saturday, during Berkshire&#8217;s annual shareholder meeting, Warren Buffett addressed a question from the audience regarding the company's investments in Japan and his outlook on the same in light of a potential interest rate hike by the Bank of Japan.
Buffett said he was unfazed by the macro backdrop, stating, &#8220;I'll let the people of Japan determine their best course of action in terms of economics.&#8221; 
He then went on to reaffirm his confidence in the five Japanese trading companies, Mitsubishi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>), Marubeni (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MARUY#OTC">MARUY</a>), Mitsui (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MITSY#OTC">MITSY</a>), Sumitomo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) and Itouchi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITOCY#OTC">ITOCY</a>), while expressing continued optimism about both their prospects and the broader Japanese economy.
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Buffett noted that when he first acquired stakes in these trading houses six years ago, they were &#8220;selling at ridiculously low prices.&#8221; His conviction deepened over time, he added, as he got to know the companies and their leadership teams better.
&#8220;Japan's record has been extraordinary,&#8221; he said, pointing to the strong presence of several major American companies in the region, including several Berkshire holdings like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), and American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>).
Buffett added that &#8220;in the next 50 years, we won't give a thought to selling those [Japanese trading houses] positions,&#8221; underscoring not only his own long-term conviction but also that of Berkshire Vice Chairman, and his newly appointed successor, Greg Abel.
Abel followed up by saying, &#8220;It's been a very good investment, but we really envision holding the investment for 50 years or forever,&#8221; adding that he hopes to &#8220;do big things with them globally.&#8221;
Why It Matters: Early last month, Berkshire was preparing another round of yen-denominated bond issuance, reportedly aimed at <a href="https://www.benzinga.com/news/global/25/04/44601574/warren-doubles-down-on-japan-another-yen-bond-blitz-amid-growing-us-market-volatility">refinancing maturing debt</a> and increasing its stakes in its Japanese plays.
Former Vice Chairman Charlie Munger had described the investment as a &#8220;no-brainer,&#8221; pointing to Japan's <a href="https://benzinga.com/25/02/43441032/charlie-munger-praised-buffetts-20b-no-brainer-investment-in-japan-like-having-god-just-opening-a-chest-and-pouring-money-into-it">ultra-low borrowing rates</a>, around 0.50%, and the attractive dividend yields of over 5% offered by the trading houses. 
The company reported its first-quarter results on Saturday, with operating earnings falling 14% year-over-year to $9.6 billion. The decline was primarily due to a <a href="https://www.benzinga.com/news/earnings/25/05/45183890/berkshire-hathaways-q1-2025-earnings-plunge-amid-tariff-concerns-operating-profit-fell-14-cash-hit-a-record">$1.1 billion hit</a> to underwriting profits from wildfires in Southern California during the quarter.
Price Action: Berkshire shares were up 1.80% on Friday, and are up 0.35% after hours following the company&#8217;s first quarter results, according to data from <a href="http://pro.benzinga.com">Benzinga Pro. </a>
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