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Wednesday, Jan 15, 2025
Outside the box.
Warren Buffett Sells Nearly 50% of Apple Shares
Warren Buffett’s Berkshire Hathaway has cut its stake in Apple by nearly half this year. The holding company's investment dropped from one hundred seventy-four point three billion dollars to eighty-four point two billion dollars. Despite being a long-term Apple investor, Buffett cited tax reasons and a need to boost cash reserves as motives for this move.
Berkshire Hathaway, led by billionaire investor Warren Buffett, has drastically reduced its investment in Apple, shedding nearly half of its shares since the beginning of the year.
As of June 30, the holding company's interest in Apple plummeted from one hundred seventy-four point three billion dollars to eighty-four point two billion dollars.
In the last quarter of the previous year, Berkshire sold approximately ten million Apple shares, around one percent of its holding.
Although still Berkshire's largest investment, the continuous sell-off of Apple shares is unexpected for Buffett, a known long-term investor and Apple enthusiast.
At the Berkshire annual meeting in May, Buffett cited tax considerations and a desire to bolster Berkshire's cash reserves as reasons for the sales.
In the second quarter, Berkshire sold seventy-five point five billion dollars in stock, increasing its cash reserves to a record two hundred seventy-seven billion dollars.
Analysts suggest this move reflects Buffett's concerns about the U.S. economy.
Apple's stock, after a rocky start to the year, surged above two hundred thirty dollars per share in June due to new AI features but later settled around two hundred nineteen dollars per share.
As of June 30, the holding company's interest in Apple plummeted from one hundred seventy-four point three billion dollars to eighty-four point two billion dollars.
In the last quarter of the previous year, Berkshire sold approximately ten million Apple shares, around one percent of its holding.
Although still Berkshire's largest investment, the continuous sell-off of Apple shares is unexpected for Buffett, a known long-term investor and Apple enthusiast.
At the Berkshire annual meeting in May, Buffett cited tax considerations and a desire to bolster Berkshire's cash reserves as reasons for the sales.
In the second quarter, Berkshire sold seventy-five point five billion dollars in stock, increasing its cash reserves to a record two hundred seventy-seven billion dollars.
Analysts suggest this move reflects Buffett's concerns about the U.S. economy.
Apple's stock, after a rocky start to the year, surged above two hundred thirty dollars per share in June due to new AI features but later settled around two hundred nineteen dollars per share.
