Buffett’s Berkshire Hathaway Nearly Halves Stake In Apple

Warren Buffett’s Berkshire Hathaway has significantly reduced its stake in Apple, cutting its holdings by nearly 50%, according to the company's second-quarter earnings report released, Robert Ilich reported for CNN.

Berkshire Hathaway reported that its Apple holdings were valued at $84.2 billion at the end of the quarter. I Photo: pingping Flickr

Berkshire Hathaway reported that its Apple holdings were valued at $84.2 billion at the end of the quarter, down from 790 million shares to 400 million shares. This sharp reduction is notable given Buffett’s reputation for holding onto stocks for extended periods.

Berkshire Hathaway has previously downsized its stake in Apple, which has a market capitalization of over $3.3 trillion.

In the final quarter of 2023, the company sold 10 million Apple shares, representing about 1% of its total holdings in the company. In the first quarter of 2024, Berkshire cut its stake in Apple by 13%.

Meanwhile, the Omaha, Nebraska-based conglomerate reported a record cash pile of nearly $277 billion for the second quarter, up from $189 billion in the first quarter.

Berkshire also sold off $75.5 billion in stock during the second quarter, including a reduction in its second-largest holding, Bank of America, which is now valued at $41.1 billion.