Buffett's Final Portfolio Moves Before Retirement

Written by Emily J. Thompson, Senior Investment Analyst

AAPL+1.12%

KO+1.36%

UNH-19.61%

Source: Fool

Updated: 1d ago

0mins

Source: Fool

Portfolio Disclosure: Berkshire Hathaway will disclose its portfolio changes via SEC Form 13F 45 days after the quarter ends, expected to reveal Buffett's final decisions before retirement, impacting the company's future investment strategies.
Apple Stock Reduction: By the end of 2025, Berkshire's Apple shares decreased from 906 million to 238.2 million, yet Apple still constitutes 19% of its portfolio, indicating a strategic move towards diversification despite the reduction.
Increased American Express Holdings: Berkshire's stake in American Express reached 151.6 million shares, reflecting Buffett's preference for credit card companies, particularly due to their loyal customer base and high annual fees, which are expected to continue driving revenue growth.
Investment in UnitedHealth Group: Berkshire invested $1.57 billion in UnitedHealth Group in Q2 2025, addressing prior miscalculations in healthcare costs; management is adjusting pricing strategies to restore profit margins, positioning the company for a potential rebound.

AAPL

$258.27+Infinity%1D

Analyst Views on AAPL

Wall Street analysts forecast AAPL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AAPL is 299.69 USD with a low forecast of 230.00 USD and a high forecast of 350.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

32 Analyst Rating

19 Buy

11 Hold

2 Sell

Moderate Buy

Current: 255.410

Low

230.00

Averages

299.69

High

350.00

Current: 255.410

Low

230.00

Averages

299.69

High

350.00

JPMorgan

Overweight

maintain

$305 -> $315

2026-01-26

New

Reason

JPMorgan

Price Target

$305 -> $315

AI Analysis

2026-01-26

New

maintain

Overweight

Reason

JPMorgan raised the firm's price target on Apple to $315 from $305 and keeps an Overweight rating on the shares as part of a fiscal Q1 earnings report. Apple shares have underperformed the S&P 500 Index over last two months as positive data points around "robust" iPhone 17 demand have been overshadowed by margin concerns from the "unprecedented rise" in memory costs, the analyst tells investors in a research note. JPMorgan, however, sees positive set up for the shares heading into the earnings print. Apple is trading below the peak multiple that is typical for the shares heading into a key iPhone product cycle, contends the firm.

Jefferies

Hold

downgrade

2026-01-26

New

Reason

Jefferies

Price Target

2026-01-26

New

downgrade

Hold

Reason

Jefferies lowered the firm's price target on Apple to $276.47 from $283.36 and keeps a Hold rating on the shares. Even though the firm has trimmed its service revenue forecasts, noting that Sensor Tower data shows App Store revenue grew only about 7% in the December-end quarter, which would mark the slowest in the last seven quarters, the analyst believes strong iPhone sales could likely drive a 3% beat in both revenue and EPS in the upcoming report.

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BofA

upgrade

2026-01-21

Reason

BofA

Price Target

2026-01-21

upgrade

Reason

BofA analysts added Merck (MRK) to the firm's "US 1 List" and renewed Apple (AAPL) on the list. The list represents BofA's best investment ideas.

UBS

Neutral

maintain

$280

2026-01-20

Reason

UBS

Price Target

$280

2026-01-20

maintain

Neutral

Reason

UBS keeps a Neutral rating and $280 price target on Apple ahead of its earnings. The firm says the company is expected to see "solid demand" for the iPhone 17 series and also cites its checks that suggest a slight pull-in in the December quarter ahead of rising memory costs that should drive December quarter iPhone unit sell-in up about 12%-13% to 84.5M - 85.0M units, the analyst tells investors in a research note. While aspects of the iPhone 17 technical specs supported solid demand initially at launch, the risk of higher memory costs likely led to slightly higher production and sell-through than expected late in the quarter, leading to upside, the firm added.

About AAPL

Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its product categories include iPhone, Mac, iPad, and Wearables, Home and Accessories. Its software platforms include iOS, iPadOS, macOS, watchOS, visionOS, and tvOS. Its services include advertising, AppleCare, cloud services, digital content and payment services. The Company operates various platforms, including the App Store, that allow customers to discover and download applications and digital content, such as books, music, video, games and podcasts. It also offers digital content through subscription-based services, including Apple Arcade, Apple Fitness+, Apple Music, Apple News+, and Apple TV+. Its products include iPhone 16 Pro, iPhone 16, iPhone 15, iPhone 14, iPhone SE, MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, Mac Pro, iPad Pro, iPad Air, AirPods, AirPods Pro, AirPods Max, Apple TV, Apple Vision Pro and others.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.