Tomahawk, WI 10/24/2013 (BasicsMedia) – Apple Inc. (NASDAQ:AAPL) has been the preferred stock for millionaires for quite a long time. It has always topped the Tiger 21 list, which millionaires use to determine the stock they prefer to invest in or buy. A new stock or company has now emerged to replace AAPL, and it is owned by Warren Buffett, Berkshire Hathaway Inc. AAPL has been setting records left, right and center on a global scale, where its products are often in great demand and sell very well across the world. Why do millionaires think AAPL is not as attractive to them as it used to in the past?

The millionaires of Canada and the U.S appear to have had a change of heart and mind regarding the worth of AAPL. Tiger 21 is composed of a number of wealthy investors who are all based in New York. These wealthy investors carry out an annual survey to determine the stock they think offers better opportunities to them in terms of return on investments compared to others. AAPL has topped this list in the last two years, until this year where it has been relegated to the second place behind Warren Buffett’s company, Berkshire Hathaway Inc. Why is AAPL unattractive?

AAPL Shares Have Dropped by 25% since September 2012

AAPL shares reached their highest level in September 2012. Since then, the company has seen its stock decrease in value by as much as 25%. This is one of the reasons why Tiger 21 millionaires believe that AAPL is not as attractive as it used to be, and is the second choice for wealthy investors after Berkshire Hathaway Inc. The second reason why millionaires are thinking twice about AAPL being the stock of choice is that the company has been too focused on fighting competitors who are selling cheaper products compared to those it sells.

Tiger 21 Millionaires Concerned about Steve Job’s Absence at AAPL

Millionaires, such as those forming Tiger 21, are concerned that AAPL may not be as innovative as it once was under the leadership of Steve Jobs, who is deceased. It is difficult to predict or attempt to say how long this preference of Berkshire Hathaway over AAPL or other global stocks will last. Berkshire Hathaway has its own issues, chief of them being that Warren Buffett is yet to name his successor. However, it seems that millionaires are willing to continue trusting him despite Warren Buffett advancing in age, being that he is 83 years old now.

This is not the only category where AAPL plays a secondary role to Berkshire. It has lost the title of being the most respected company in the world to Berkshire, in addition to losing the title of the most-looked up stock according to CNBC. However, AAPL is now the official most recognized brand in the world, having dislodged Coca Cola from the first position it has occupied for close to thirteen years now. AAPL is ranked first globally in terms of all brands and is ahead of other global brands such as Google Inc, Microsoft, and IBM among others.

I believe this is just a small setback that AAPL will recover from as it has done many times in the past.

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