Warren Buffett Sells Off Apple Shares
According to earnings filings, Warren Buffett's company, Berkshire Hathaway, has sold almost half of its Apple shares. For more details, read the full article on RT.com.
TroibNews 
Berkshire Hathaway, led by billionaire Warren Buffett, has notably decreased its shares in Apple, reducing its investment by nearly 50% since the beginning of the year, according to a recent quarterly earnings statement released on Saturday.
As of June 30, the investment firm’s stake in Apple was valued at $84.2 billion, down from $174.3 billion at the end of the previous year. Additionally, in the last quarter of the previous year, Berkshire Hathaway disposed of about 10 million shares of Apple, which represents approximately 1% of its total holdings.
Despite this considerable reduction, Apple continues to be the largest holding within Berkshire’s diverse portfolio. Buffett has consistently expressed his commitment to Apple, stating during Berkshire's annual meeting in May, "I think Apple is going to be one of the core holdings of Berkshire for a long time." However, he also admitted that his decision to sell some of the Apple shares was influenced by tax considerations and a strategy to increase Berkshire’s cash reserves.
The second quarter saw Berkshire Hathaway selling $75.5 billion worth of stocks, escalating its cash reserves to a historic peak of $277 billion, up from $88 billion in the first quarter of 2024. This quarter marked the seventh consecutive quarter where the firm's sales exceeded its purchases, with cash now accounting for about 30% of its market value, which is more than $900 billion.
Analysts are speculating that this cash accumulation might reflect Buffett's concerns about the U.S. economy. Jim Shanahan, an analyst at Edward Jones, expressed his apprehension in a commentary to MarketWatch, noting, "Buffett’s recent moves make me concerned about his outlook for the markets and economy. It’s incredible how much the cash has grown."
In terms of stock performance, Apple started off the year with challenges due to sluggish iPhone sales and increased competition. However, the unveiling of new AI features in early June spurred a significant increase in stock value. Following this, Apple’s stock surged last month to a high of over $230 per share, pushing its market cap beyond $3.5 trillion—a record for a publicly traded company. The stock price has since receded slightly, closing at around $219 per share last Friday.
Visit RT's business section for more articles on finance and economy.
Sanya Singh for TROIB News
As of June 30, the investment firm’s stake in Apple was valued at $84.2 billion, down from $174.3 billion at the end of the previous year. Additionally, in the last quarter of the previous year, Berkshire Hathaway disposed of about 10 million shares of Apple, which represents approximately 1% of its total holdings.
Despite this considerable reduction, Apple continues to be the largest holding within Berkshire’s diverse portfolio. Buffett has consistently expressed his commitment to Apple, stating during Berkshire's annual meeting in May, "I think Apple is going to be one of the core holdings of Berkshire for a long time." However, he also admitted that his decision to sell some of the Apple shares was influenced by tax considerations and a strategy to increase Berkshire’s cash reserves.
The second quarter saw Berkshire Hathaway selling $75.5 billion worth of stocks, escalating its cash reserves to a historic peak of $277 billion, up from $88 billion in the first quarter of 2024. This quarter marked the seventh consecutive quarter where the firm's sales exceeded its purchases, with cash now accounting for about 30% of its market value, which is more than $900 billion.
Analysts are speculating that this cash accumulation might reflect Buffett's concerns about the U.S. economy. Jim Shanahan, an analyst at Edward Jones, expressed his apprehension in a commentary to MarketWatch, noting, "Buffett’s recent moves make me concerned about his outlook for the markets and economy. It’s incredible how much the cash has grown."
In terms of stock performance, Apple started off the year with challenges due to sluggish iPhone sales and increased competition. However, the unveiling of new AI features in early June spurred a significant increase in stock value. Following this, Apple’s stock surged last month to a high of over $230 per share, pushing its market cap beyond $3.5 trillion—a record for a publicly traded company. The stock price has since receded slightly, closing at around $219 per share last Friday.
Visit RT's business section for more articles on finance and economy.
Sanya Singh for TROIB News
