Apple Stock Sinks as Warren Buffett Dumps Shares

The equity is seeing increased put activity

Jake Scott

Deputy Editor

Aug 5, 2024 at 12:22 PM

AAPL

Apple Inc (NASDAQ:AAPL) stock is down 3.8% to trade $211.56 at last glance, amid the broad-market selloff. Today's bear gap follows news that Warren Buffett's Berkshire Hathaway (BRK) sold nearly half of its AAPL stake, per a disclosure in its earnings filing.

Apple stock hit its lowest level since June earlier in the session, and is now trading south of its 50-day moving average for the first time since May. Despite today's big bear gap on the charts, AAPL is still up 9.2% in 2024.

Already today, 498,000 puts have exchanged hands, volume that is double the average intraday amount. Most popular is the weekly 8/9 200-strike put, where new positions are being sold to open.

Follow @Schaeffers

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade. Professional traders have rushed into the market and are making a mint. Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.