Berkshire Hathaway Reduces Apple Stake by Almost 50% in Major Portfolio Shift
Warren Buffett’s Berkshire Hathaway has dramatically reduced its stake in Apple, cutting it nearly in half according to the company’s second-quarter earnings report released on Saturday. The conglomerate’s holdings in Apple fell from 790 million shares to 400 million, now valued at $84.2 billion. This significant sell-off marks a departure from Buffett’s usual strategy of long-term stock holding.
Apple, which has a market cap exceeding $3.3 trillion, did not respond to requests for comment. This isn’t the first time Berkshire Hathaway has trimmed its Apple investment; the company previously sold off 10 million shares in late 2023 and reduced its stake by 13% in the first quarter of 2024.
Alongside the Apple reduction, Berkshire also decreased its stake in Bank of America, now valued at $41.1 billion. The earnings report highlights that approximately 72% of Berkshire’s portfolio is concentrated in five major companies: American Express ($35.1 billion), Apple ($84.2 billion), Bank of America ($41.1 billion), Coca-Cola ($25.5 billion), and Chevron ($18.6 billion).
Notably, Berkshire Hathaway reported a record cash reserve of nearly $277 billion for the second quarter, a substantial increase from the $189 billion reported in the first quarter. The company sold $75.5 billion in stock during this period, reflecting significant portfolio adjustments.
