At Extreme Investor Network, we strive to provide valuable insights and expertise on all things finance. Today, we’re diving into the recent news that Warren Buffett’s Berkshire Hathaway has cut its massive stake in Apple. As one of the most renowned investors in the world, Buffett’s actions often have significant implications for the market.
In its first-quarter earnings report, Berkshire Hathaway revealed that it had reduced its stake in Apple by around 13%, with the investment now worth $135.4 billion. This move comes after a similar reduction in the previous quarter, where the conglomerate sold about 10 million Apple shares. Buffett attributed the sale to tax reasons and concerns about potential future tax increases to fund the growing U.S. fiscal deficit.
Despite the sale, Buffett remains a fan of Apple, stating that it is “extremely likely” the tech giant will continue to be Berkshire’s largest holding at the end of 2024. This vote of confidence comes as Apple faces challenges, such as a decline in overall sales and iPhone sales, leading to a decrease in its stock price.
Even with the reduced stake, Berkshire remains Apple’s largest shareholder outside of exchange-traded fund providers. This news has sparked discussions among investors and analysts about the implications for both Berkshire and Apple moving forward.
As we continue to monitor this situation, stay tuned to Extreme Investor Network for the latest updates and expert analysis on all things finance. Our unique insights and in-depth research set us apart as a go-to source for all your investment needs.
