Buffett sells half of Apple shares, cash back
His company Berkshire Hathaway, of which Warren Buffett is the largest shareholder, sold half of Apple's shares. With sales of $84.2 billion, the company's cash assets rose to a record high to $277 billion.
Famous stockbroker Warren Buffett's company Berkshire Hathaway sold half of Apple shares in the second quarter, which by far accounted for the largest share in its portfolio.
Prior to the sale, Apple shares in Berkshire Hathaway were worth close to $170 billion. According to the latest report, the company now holds $84.2 billion in Apple shares. This means that about 49 percent of the shares are sold.
Despite this large sale, Apple still remained the largest company in Berkshire Hathaway's portfolio. According to the current table, the second company with the largest share in the portfolio is Bank of America, with $41.1 billion. It is followed by American Express with $35.1 billion, Coca Cola with $25.5 billion, and Chevron with $18.6 billion.
With the sale of Apple shares, Berkshire's cash asset was $277 billion, which was recorded as a new record level.
Buffett had started to reduce Berkshire's shares in Apple late last year, with the billionaire, who raising the pace of share sales in early 2024, said in May that he would remain among Apple's long-term investments.
This big stock sale of Buffett, which was seen as a surprise, said, 'Does he know something?' It caused comments to be made.
