Warren Buffett's recent announcement of a significant reduction in Berkshire Hathaway's Apple stock holdings has raised questions about the tech giant's future trajectory, especially amidst declining revenues and uncertainties surrounding its growth prospects.

Buffett's praise for Apple following a lackluster Q2 report has prompted speculation about his motives, with some suggesting he might be trying to maintain the stock price as high as possible while offloading shares. However, Buffett's exact intentions remain unclear.

Apple's declining free cash flow and limited balance sheet cash have fueled concerns about its ability to sustain its $110 billion stock buyback program. While the company's recent quarterly performance showed a mixed bag of results, including a decline in total revenue but growth in services revenue, questions persist about its long-term growth drivers.

The company's optimistic outlook for its Vision Pro virtual reality headset and its emphasis on artificial intelligence offer glimpses of potential future growth areas. However, challenges such as the headset's expected low sales volume raise doubts about its immediate impact on the company's financials.

With Apple's free cash flow declining and its stock buyback program surpassing its balance sheet cash, the question arises: How will the company finance its buybacks? One possible avenue is issuing bonds, a strategy Apple has employed in the past to fund buybacks and dividends while taking advantage of lower tax rates on foreign earnings.

Despite uncertainties surrounding Apple's future growth prospects and its financial strategy, some experts remain confident in the company's ability to weather these challenges. Apple's substantial free cash flow generation and its track record of using a combination of bonds and cash to finance buybacks suggest it has the resources to navigate the current landscape.

However, concerns linger about Apple's departure from its innovation-driven strategy under Steve Jobs, with some questioning whether the company has lost its edge in creating groundbreaking products. As Apple continues to grapple with evolving market dynamics, the path forward remains uncertain, leaving investors and analysts alike to ponder the company's next moves.