Warren Buffett slashes longtime Apple stakeAP, OMAHA, NebraskaBillionaire Warren Buffett slashed Berkshire Hathaway Inc’s massive Apple Inc stake in a move that could prove unsettling for the broader stock market — because the investor is so revered and because there had been little positive financial news lately. That gave investors the impression that Buffett might hold on to Apple indefinitely as he has with the Coca-Cola Co and American Express Co shares he bought decades ago. However, he has trimmed the Apple stake over the past year and has recently also sold off some of his stock in Bank of America Corp and Chinese electric-vehicle maker BYD Co (比亞迪) while buying little. At the end of the first quarter, Berkshire’s Apple stake was worth US$135.4 billion. Shanahan said he estimates that Berkshire still holds about 400 million Apple shares.

Source: Taipei Times August 05, 2024 03:42 UTC