Technology
Warren Buffett’s Berkshire Hathaway Sells Half of Its Apple Shares
Warren Buffett’s Berkshire Hathaway Reduces Its Stake in Apple by about halfto $84.2 billion, in accordance with SEC filing.
While Apple stays the corporate’s largest holding, Buffett had already reduced his stake by 13 percent earlier this 12 months, hinting that he doesn’t mind selling the “little Apple” for tax reasons.
According to Berkshire Hathaway’s calculations, it made so much of money on the sale. “Financial Times”; Buffett largely eschewed technology investing before he began buying Apple stock in 2016. That might be an indication that Buffett has lost some faith in Apple, or he may simply be in a selling mood — he’s also been selling other stocks, including $3.8 billion price of Bank of America shares.
The filing comes after Apple reported its third-quarter results on Thursday. The rise in iPad sales is a positive sign, while global iPhone sales fell for a second straight quarter, partly as a consequence of competition in China from corporations like Huawei.
CEO Tim Cook said the corporate is devoting resources to preparing for the launch of Apple Intelligence, a set of AI features it plans to release in the autumn.