Shocking! Berkshire Hathaway's Apple holdings "halved", what did Buffett see?
After reducing its holdings by 13% in the first quarter, Berkshire Hathaway's Apple holdings had been reduced by nearly half by the end of the second quarter
Warren Buffett surprises the market again!
As of the end of the second quarter, Berkshire Hathaway's stake in Apple was valued at $84.2 billion, indicating that the "Oracle of Omaha" has sold 49.4% of its tech holdings.
Previously, Berkshire reduced its Apple holdings by 13% in the first quarter, hinting at tax reasons at the Berkshire annual meeting in May. Buffett pointed out that if the U.S. government wants to offset the rising budget deficit by raising capital gains taxes, then this year's "small sale of Apple" will benefit Berkshire shareholders in the long run.
However, the scale of this sale suggests that it may not just be a tax-saving measure.
Under the influence of Buffett's investment deputies Ted Weschler and Todd Combs, Berkshire began buying Apple stock in 2016. Over the years, Buffett's love for Apple has grown, significantly increasing its stake in the company, making it Berkshire's largest stock and calling the tech giant the second most important business after its insurance conglomerate. Source