Warren Buffett’s Berkshire Hathaway sold nearly half of its stake in Apple

The financial behemoth led by Warren Buffett, Berkshire Hathaway, said on Saturday that it had sold over half of its Apple shares in the second quarter.

According to the company’s financials, Berkshire Hathaway sold a net $75.5 billion worth of shares in the three months leading up to June, increasing its cash reserve to a record $276.94 billion.

The conglomerate located in Omaha, Nebraska, revealed in its business results that the value of its investment in Apple at the conclusion of the second quarter was $84.2 billion. This means that the «Oracle of Omaha» relinquished little more than 49% of the technological asset.

In addition to selling 115 million shares, or 13% of the company, from January through March, Berkshire Hathaway also sold over 390 million shares of Apple stock in the second quarter.

Still, as of June 30, he held almost 400 million Apple shares, which were valued at $84.2 billion.

Buffett stated that Berkshire shareholders will ultimately profit from selling «a little bit of Apple» this year during the company’s annual meeting in May.

In 2024, Apple shares are up 14%.