Thursday, May 8, 2025
  • Business
  • Investing
  • World-news
  • Stock
No Result
View All Result
Finance Mastery News
Advertisement
  • Business
  • Investing
  • World-news
  • Stock
No Result
View All Result
Finance Mastery News
No Result
View All Result
Home Business

Warren Buffett’s Berkshire Hathaway sold nearly half its stake in Apple

admin by admin
August 6, 2024
in Business
0
Warren Buffett’s Berkshire Hathaway sold nearly half its stake in Apple
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Warren Buffett’s Berkshire Hathaway dumped nearly half of its gigantic Apple stake last quarter in a surprising move for the famously long-term-focused investor.

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.

The Apple share sale comes amid a broader pattern of selling by Buffett in the second quarter as Berkshire unloaded more than $75 billion in equities in the period, raising the conglomerate’s cash fortress to a record $277 billion.

Buffett had trimmed the Apple stake by 13% in the first quarter and hinted at the Berkshire annual meeting in May that it was for tax reasons. Buffett noted that selling “a little Apple” this year would benefit Berkshire shareholders in the long run if the tax on capital gains is raised down the road by a U.S. government wanting to plug a climbing fiscal deficit.

But the magnitude of this selling suggests it could be more than just a tax-saving move.

After declining in the first quarter on concerns it was falling behind on artificial intelligence innovation, Apple shares took off in the second quarter, gaining 23% to a new record as it gave more detail to investors about its future in artificial intelligence.

It won’t be clear exactly why Buffett is selling down the holding Berkshire first bought more than eight years ago, whether company reasons, market valuation or because of portfolio management concerns (Buffett typically doesn’t want a single holding to grow too large). Berkshire’s Apple holding was once so big that it took up half of its equity portfolio.

The 93-year-old investor largely avoided technology companies for most of his career before Apple. Berkshire began buying the stock in 2016 under the influence of Buffett’s investing lieutenants Ted Weschler and Todd Combs. Over the years, Buffett grew so fond of Apple that he increased the stake drastically to make it Berkshire’s biggest and called the tech giant the second-most important business after his cluster of insurers.

Buffett has been on a bit of a selling spree as of late with his top holdings. Buffett recently starting downsizing his second biggest stake — Bank of America, shedding $3.8 billion worth of the bank shares after a 12-day selling spree.

Overall, the quarterly report showed Buffett dumping stock last quarter, which saw the S&P 500 rise to a record in anticipation of a “soft landing” for the U.S. economy. That soft landing was called into question this week with Friday’s weaker-than-expected July jobs report.

This post appeared first on NBC NEWS

Previous Post

Dow tumbles more than 600 points after weak jobs report

Next Post

4 Ways to Invest in Gold for Retirement (Updated 2024)

admin

admin

Next Post
4 Ways to Invest in Gold for Retirement (Updated 2024)

4 Ways to Invest in Gold for Retirement (Updated 2024)

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    • Trending
    • Comments
    • Latest
    Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target

    Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target

    October 28, 2024
    Israeli MP behind bill to expel key UN agency accuses US of interfering with process

    Israeli MP behind bill to expel key UN agency accuses US of interfering with process

    October 28, 2024
    British nurse Lucy Letby loses bid to appeal single attempted murder conviction

    British nurse Lucy Letby loses bid to appeal single attempted murder conviction

    October 25, 2024
    North Korean troops spotted in Russian border region with Ukraine, says Kyiv

    North Korean troops spotted in Russian border region with Ukraine, says Kyiv

    October 25, 2024
    Tears of joy as Valerie the runaway dachshund finally reunited with owners

    Tears of joy as Valerie the runaway dachshund finally reunited with owners

    0
    Private payroll growth slowed to 122,000 in July, less than expected, ADP says

    Private payroll growth slowed to 122,000 in July, less than expected, ADP says

    0
    The 10 worst states to retire in the U.S. No. 1 isn’t California or New York

    The 10 worst states to retire in the U.S. No. 1 isn’t California or New York

    0
    Boeing taps aerospace veteran Ortberg to replace Dave Calhoun as CEO

    Boeing taps aerospace veteran Ortberg to replace Dave Calhoun as CEO

    0
    Tears of joy as Valerie the runaway dachshund finally reunited with owners

    Tears of joy as Valerie the runaway dachshund finally reunited with owners

    May 8, 2025
    October 7 families demand to know the number of Gaza hostages still alive, after Trump said 3 more have died

    October 7 families demand to know the number of Gaza hostages still alive, after Trump said 3 more have died

    May 8, 2025
    Putin’s Victory Day ceasefire set to come into effect

    Putin’s Victory Day ceasefire set to come into effect

    May 8, 2025
    Syrian president says his government is holding indirect talks with Israel

    Syrian president says his government is holding indirect talks with Israel

    May 8, 2025

    Recent News

    Tears of joy as Valerie the runaway dachshund finally reunited with owners

    Tears of joy as Valerie the runaway dachshund finally reunited with owners

    May 8, 2025
    October 7 families demand to know the number of Gaza hostages still alive, after Trump said 3 more have died

    October 7 families demand to know the number of Gaza hostages still alive, after Trump said 3 more have died

    May 8, 2025
    Putin’s Victory Day ceasefire set to come into effect

    Putin’s Victory Day ceasefire set to come into effect

    May 8, 2025
    Syrian president says his government is holding indirect talks with Israel

    Syrian president says his government is holding indirect talks with Israel

    May 8, 2025

    Disclaimer: financemasterynews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Browse by Category

    • Business
    • Investing
    • Stock
    • World-news

    Recent News

    Tears of joy as Valerie the runaway dachshund finally reunited with owners

    Tears of joy as Valerie the runaway dachshund finally reunited with owners

    May 8, 2025
    October 7 families demand to know the number of Gaza hostages still alive, after Trump said 3 more have died

    October 7 families demand to know the number of Gaza hostages still alive, after Trump said 3 more have died

    May 8, 2025
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 financemasterynews.com | All Rights Reserved

    No Result
    View All Result

    Copyright © 2025 financemasterynews.com | All Rights Reserved