Warren Buffet’s Berkshire Hathaway Has Sold Almost Half Of Its Apple Stock, With The Latter’s Entire Holdings Valued At A Whopping $84.2 Billion
Berkshire Hathaway has earlier shorted 13 percent of Apple stock in the first quarter this year, and according to a new SEC filing, Warren Buffet has now sold nearly half of the technology giant’s stock, making it a hefty payday for the 93-year-old investor. The decision comes just days after the California-based firm posted its Q3 2024 earnings, where it generated a net profit of $21.4 billion.
The move is surprising given that Apple pocketed billions during its Q3 2024 earnings call
The Omaha-based conglomerate revealed in the latest filing that Apple shares were valued at $84.2 billion at the end of the quarter and dropped from 790 million shares to 400 million. Warren Buffer is known for holding onto stock for extended periods, so the selloff timing definitely deviates from his typical practices. Given that Apple’s iPhone revenue has dropped slightly this quarter, it is possible that Buffer no longer believes that the company no longer possesses the ability to maintain its dominant position, or maybe because he was just in a shorting mood.
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Sadly, the chairman and CEO of Berkshire Hathaway is yet to comment on the latest move. With the latest sale, the U.S. multinational holdings company has recorded a cash stockpile of $277 billion, and Apple still remains the firm’s largest stake. Besides this, Berkshire Hathaway cut its stake in its second-largest position, Bank of America, to $41.1 billion, with the third-largest holdings being American Express at $35.1 billion, followed by Coca-Cola at $25.5 billion and Chevron at $18.6 billion.
Despite iPhone revenue being lower than the previous quarter and the year-over-year period, Apple recorded an impressive 24 percent annual revenue jump from its iPad business, making it the highest for any of the company’s segments in Q3 2024. Apple CEO Tim Cook also
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