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Warren Buffett praises Apple after trimming positions — and is a bit freaked out about AI

by enterpriseam adminSaudi Edition
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It’s a quiet morning on Planet Finance, with no single story having dominated the markets pages over the weekend.

Warren Buffett is getting attention on both sides of the Atlantic and in Asia. Berkshire Hathaway’s annual meeting is this weekend, and it’s generating lots of headlines. Here’s the Oracle of Omaha on:

Apple: Buffett went out of his way to praise Apple — his most important holding — after Berkshire trimmed its stake. The WSJ thinks the size of the company’s stake in Apple worries some investors.

Artificial intelligence: AI-powered scamming will be a global growth industry — and likened the technology’s potential impact on the world to that of nuclear weapons (watch, runtime: 1:29).

MARKETS THIS MORNING-

Shares in Europe and on Wall Street closed up on Friday.

TASI

12,352

+0.1% (YTD: +3.2%)

MSCI Tadawul 30

1,547

-0.2% (YTD: -0.2%)

NomuC

26,458

+0.4% (YTD: +7.9%)

USD : SAR (SAMA)

3.75 Sell

3.75 Buy

Interest rates

6% repo

5.5% reverse repo

EGX30

26,114

+3.3% (YTD: +4.9%)

ADX

9,037

+0.2% (YTD: -5.6%)

DFM

4,143

+0.1% (YTD: 2%)

S&P 500

5,128

+1.3% (YTD: +7.5%)

FTSE 100

8,213

+0.5% (YTD: +9.6%)

Euro Stoxx 50

4,921

+0.6% (YTD: +8.9%)

Brent crude

USD 82.96

-0.9%

Natural gas (Nymex)

USD 2.14

+5.3%

Gold

USD 2,309

-0.04%

BTC

USD 63,919

+1.4% (YTD: 44.3%)

THE CLOSING BELL: TADAWUL-

The TASI rose 0.1% on Thursday on turnover of SAR 6.5 bn. The index is up 3.2% YTD.

In the green: Al Baha (+7.7%), Raydan (+7.3%) and Tawuniya (+6.6%).

In the red: Chemical (-5.4%), Marafiq (-5.2%) Zoujaj (-4.8%).

THE CLOSING BELL: NOMU-

The NomuC rose 0.4% on Thursday on turnover of SAR 77.1 mn. The index is up 7.9% YTD.

In the green: Future Care (+7.5%), NGDC (+6.3%) and Apico (+5.6%).

In the red: Al Rashid Industrial (-10.4%), Almuneef (-6.6%) and Taqat (-5.8%)

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