Tepper Bets Against Apple and Berkshire Hathaway Amid Memory Pricing Concerns
Famous investor David Tepper has taken a bearish stance on two of America's most widely held companies, Apple and Berkshire Hathaway. According to Appaloosa's recent 13F filing, Tepper initiated new put positions referencing 835,000 underlying Apple shares worth $241,615,600 in notional value, and 25,000 underlying Berkshire Class B shares worth $12,509,750 in notional value.
The filings disclose only the notional value of the underlying shares behind an option position, but a put is considered a bearish or hedging exposure, not an outright short sale. This means that Tepper's actual capital at risk may be significantly lower than the disclosed figures.
One possible reason for Tepper's decision to bet against Apple and Berkshire Hathaway is his concern about memory pricing. Cook himself called it 'a 100-year flood… with exponential increases'. At a 35 trailing P/E, Apple's stock price has already fallen by 6.5% over the past month.
Berkshire Hathaway also faces its own set of problems. FY25 operating earnings slipped to $44.49B from $47.44B, insurance underwriting collapsed to $1.56B from $3.41B, and Q2 FY26 net income fell 16.65% YoY.