Warren Buffett’s Berkshire Hathaway (NYSE:BRK-B) may have offloaded a massive chunk of Apple (NASDAQ:AAPL) stock this year. Still, there are plenty of reasons to hang on.
Undoubtedly, Apple stock is seemingly expensive from a historical standpoint, with shares currently trading at just under 35 times trailing price-to-earnings (P/E). The premium is largely attributed to the looming launch of iOS 18.1 — the update that includes Apple Intelligence — which will set the tone for the new year.
For now, Apple Intelligence is in beta, and the full smarts of the updated Siri won’t be fully understood until iOS 18.1 is here. Indeed, the 18.1 update is bound to be the biggest and most profound one in iPhone history.
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