Warren Buffett’s Berkshire Hathaway has significantly trimmed its stake in Apple, reducing its holding by about 50% to $84.2 billion, according to a recent SEC filing. Despite Apple remaining Berkshire’s largest investment, Buffett has previously hinted at selling some shares for tax benefits, having already cut his stake by 13% earlier this year.
This move reflects a notable shift in Buffett's investment strategy. Since Berkshire first invested in Apple in 2016, Buffett has enjoyed substantial gains, particularly given his historical reluctance to invest heavily in tech. The reduction in Apple shares comes amid a broader trend of divestments, including a $3.8 billion sale of Bank of America shares.
Apple’s latest financial results, released Thursday, showed mixed performance. While iPad sales grew, global iPhone sales fell for the second quarter in a row, partly due to heightened competition from Chinese rivals like Huawei. CEO Tim Cook announced that the company is focusing on developing Apple Intelligence, a new suite of AI features set to launch this fall, signaling Apple's ongoing commitment to innovation despite current challenges.
