Billionaire David Tepper Is Short Apple And Even Bet Against Buffett's Berkshire Hathaway. What Does He See?

The article examines David Tepper’s Appaloosa 13F and highlights a bearish hedge on Apple via put positions, including a smaller put on Berkshire Hathaway that may serve as a proxy short because Berkshire’s largest holding is Apple. The author argues Tepper’s Apple puts are more likely targeted hedges than a broad market call, since he also added to several AI-related names such as Nvidia, Meta, Amazon, Alphabet, and TSMC. The piece frames Apple as vulnerable after a Q3 FY26 earnings report boosted by non-recurring tariff refunds, with a high valuation and weaker underlying fundamentals. It also notes Berkshire’s own earnings pressure and lower beta as a hedging vehicle. Overall, the article suggests Tepper is expressing caution on Apple and memory-pricing-sensitive exposure rather than turning outright bearish on equities.