Business News

Berkshire Hathaway Sold 390 Million Apple Shares

By Samad Robinson

August 03, 2024

 

Warren Buffett’s Berkshire Hathaway made a significant strategic shift in the second quarter, reducing its Apple holdings by approximately 390 million shares. This drastic cut represents nearly half of the conglomerate’s previous stake in the tech giant.

Impact on Berkshire and Apple

The sale of Apple shares resulted in a significant cash infusion for Berkshire Hathaway, boosting its cash reserves to nearly $277 billion.

This financial flexibility gives Buffett ample resources to pursue acquisitions or other investment opportunities.

For Apple, the reduced stake by Berkshire Hathaway is unlikely to have a major impact on the company’s overall performance. However, it does mark a shift in the investor landscape for the tech giant.

As the dust settles on this monumental investment decision, the market will continue to scrutinize Buffett’s moves for clues about the broader economic outlook and potential investment trends.