Berkshire Cuts Apple Stake by Almost Half in Selling Spree

Category: Finance

Berkshire Hathaway Inc. reduced its stake in Apple Inc. by nearly 50% during a significant stock sell-off, resulting in a cash reserve of $276.9 billion. The company sold $75.5 billion worth of stock in the second quarter, while operating earnings increased to $11.6 billion. Despite a record high in the S&P 500, concerns about economic downturns and competition in China have affected Apple, which reported a 6.5% decline in sales to the region. Apple plans to roll out new AI features by October, despite delays in software updates.

Keywords: Berkshire Hathaway, Apple Inc., Warren Buffett

Source: Yahoo Finance

Update At: 8/3/2024

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