Warren Buffett has slashed Berkshire Hathaway's AAPL holdings in half, according to CNBC report. The surprise move comes after Buffet sold 13% of his Apple shares in the first quarter.
The Omaha-based conglomerate disclosed in its earnings filing that its holding in the iPhone maker was valued at $84.2 billion at the end of the second quarter, suggesting that the Oracle of Omaha offloaded a little more than 49% of the tech stake. Even after the selling Apple remains the largest stock stake by far for Berkshire.
Previously, Buffet had indicated that he would sell 'a little Apple' this year which could benefit Berkshire shareholders if the U.S. government raises tax on capital gains in an effort to control its climbing fiscal deficit. However, the size of the sale indicates this is more than just a tax saving move.
Berkshire also unloaded over $75 billion in equities in the second quarter, bringing its cash holdings to a record $277 billion.
AAPL opened down 10% today; however, it has been slowing climbing and is now down just 3.27%. The company recently announced financial results for its fiscal 2024 third quarter ended June 29, 2024, posting quarterly revenue of $85.8 billion, up 5 percent year over year, and quarterly earnings per diluted share of $1.40, up 11 percent year over year.
Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more Apple updates.
The Omaha-based conglomerate disclosed in its earnings filing that its holding in the iPhone maker was valued at $84.2 billion at the end of the second quarter, suggesting that the Oracle of Omaha offloaded a little more than 49% of the tech stake. Even after the selling Apple remains the largest stock stake by far for Berkshire.
Previously, Buffet had indicated that he would sell 'a little Apple' this year which could benefit Berkshire shareholders if the U.S. government raises tax on capital gains in an effort to control its climbing fiscal deficit. However, the size of the sale indicates this is more than just a tax saving move.
Berkshire also unloaded over $75 billion in equities in the second quarter, bringing its cash holdings to a record $277 billion.
AAPL opened down 10% today; however, it has been slowing climbing and is now down just 3.27%. The company recently announced financial results for its fiscal 2024 third quarter ended June 29, 2024, posting quarterly revenue of $85.8 billion, up 5 percent year over year, and quarterly earnings per diluted share of $1.40, up 11 percent year over year.
Please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more Apple updates.