W arren Buffett and Michael Burry, portrayed by Christian Bale in the movie The Big Short, have been selling Apple and buying gold this year amid the wider equity market rally.

Sure enough, the revelation that Berkshire bought these shares immediately prompted the price of Chubb stock to jump 7 percent. Now, Buffett hasn't revealed an explanation behind why Berkshire would spend so much money buying Chubb -- while simultaneously selling 100 million shares of Apple stock.

Warren Buffett loves companies that have shareholder-friendly capital return policies, especially when those companies still have opportunities to keep growing. Analysts expect Apple's earnings per share to grow at an annualized rate of 10% over the long term. Investors may expect a return consistent with that estimate.

Berkshire Hathaway CEO Warren Buffett announced — while heaping praise on Apple after a weak Q2 report — a giant unloading of the iPhone maker’s shares.

Two Buffett stocks in particular look like great buys right now.

Berkshire Hathaway has been a shareholder of Apple since 2016 when the late Charles Munger convinced Buffett it was a great stock to buy. Munger, Berkshire's long-time vice chairman, died in late 2023. The investment has been fantastically successful for the company and Buffett still believes deeply in Apple.

Berkshire Hathaway has cut its stake in Apple by 18%, signaling waning confidence as the tech giant faces challenges in its Chinese market.