Warren Buffett’s Berkshire Hathaway made headlines by slashing its stake in Apple by nearly 50%, as revealed in the conglomerate’s Q2 earnings report on Saturday.
Berkshire’s Apple holdings now stand at $84.2 billion, down from 790 million shares to 400 million.
This move is surprising given Buffett’s reputation for holding onto stocks long-term.
Apple didn’t respond to requests for comment.
Berkshire has previously trimmed its Apple stake. The company, valued over $3.3 trillion, saw Berkshire sell 10 million shares in Q4 2023, about 1% of its holdings. Another 13% was cut in Q1 2024.
In contrast, Berkshire reported a record cash pile of nearly $277 billion for Q2, up from $189 billion in Q1.
Additionally, Berkshire sold off $75.5 billion in stock in Q2, including a reduction in its second-largest position, Bank of America, now valued at $41.1 billion.
The report also highlighted that 72% of Berkshire’s total fair value is concentrated in five companies: American Express ($35.1 billion), Apple ($84.2 billion), Bank of America ($41.1 billion), Coca-Cola ($25.5 billion), and Chevron ($18.6 billion).
Buffett’s strategic moves reflect his evolving approach to managing Berkshire’s diverse business interests while navigating the ever-changing market landscape.
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