Last updated on August 8, 2024
Warren Buffett News
Berkshire Hathaway, led by Warren Buffett, significantly reduced its investment in Apple by almost 50%, as revealed in the company’s second quarter earnings report published on Saturday.
The report shows that the value of Berkshire’s holdings in Apple stood at $84.2 billion at the end of the quarter, with shares decreasing from 790 million to 400 million. This significant reduction is noteworthy, especially considering Buffett’s typical strategy of holding stocks for extended periods.
Warren Buffett Reduce Stake in Apple
Berkshire Hathaway has scaled back its position in Apple, a company valued at over $3.3 trillion. In the last quarter of 2023, Berkshire Hathaway divested 10 million shares of Apple stock, which accounted for around 1% of its overall investment in the company. By the first quarter of 2024, Berkshire had reduced its stake in Apple by 13%.
In the second quarter, Berkshire disclosed in regulatory filings that it had decreased its position in Bank of America Corp., reporting a stake valued at $41.1 billion.
Currently Apple stock price is 220 doller.
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