{"id":75496,"date":"2024-08-03T13:00:10","date_gmt":"2024-08-03T13:00:10","guid":{"rendered":"http:\/\/guid_108015931"},"modified":"2024-08-03T13:00:10","modified_gmt":"2024-08-03T13:00:10","slug":"warren-buffetts-berkshire-hathaway-sold-nearly-half-its-stake-in-apple","status":"publish","type":"post","link":"https:\/\/wp.timesamerica.net\/warren-buffetts-berkshire-hathaway-sold-nearly-half-its-stake-in-apple\/","title":{"rendered":"Warren Buffett&#8217;s Berkshire Hathaway sold nearly half its stake in Apple"},"content":{"rendered":"<p> <span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107410599\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\" style=\"padding-bottom:55.55555555555556%\">\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<\/div>\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">CNBC<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Warren Buffett&#8217;s <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><span class=\"waslinkname\">Berkshire Hathaway<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> dumped nearly half of its gigantic <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\"><span class=\"waslinkname\">Apple<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> stake in a surprising move.<\/p>\n<p>The Omaha-based conglomerate disclosed that its holding in the iPhone maker was valued at $84.2 billion at the end of the second quarter, indicating that the Oracle of Omaha offloaded 49.4% of the tech bet. <\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>Buffett trimmed the Apple stake by 13% in the first quarter and <span class=\"waslinkname\">hinted at the Berkshire annual meeting in May that it was for tax reasons.<\/span> Buffett noted that selling &#8216;a little Apple&#8217; this year would benefit Berkshire shareholders in&nbsp; 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.<\/p>\n<p>But the magnitude of this selling suggests it could be more than just a tax-saving move.<\/p>\n<p>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<\/p>\n<p>It won&#8217;t be clear exactly why the famously long-term focused investor is selling down the holding Berkshire first bought more than eight years ago, whether company reasons, market valuation or because of portfolio management&nbsp;concerns (Buffett typically doesn&#8217;t want a single holding to grow too large). Berkshire&#8217;s Apple holding was once so big that it took up half of its equity portfolio. <\/p>\n<\/div>\n<div>\n<div class=\"Collapsible-proliveCollapsableContainer\" role=\"button\" tabindex=\"0\"><svg width=\"256\" height=\"256\" viewBox=\"0 0 256 256\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" preserveAspectRatio=\"xMinYMin\" class=\"Collapsible-stockChartIcon\"><title>Stock Chart Icon<\/title><desc>Stock chart icon<\/desc><g transform=\"translate(1.4065934065934016 1.4065934065934016) scale(2.81 2.81)\"><path d=\"M 87.994 0 H 69.342 c -1.787 0 -2.682 2.16 -1.418 3.424 l 5.795 5.795 l -33.82 33.82 L 28.056 31.196 l -3.174 -3.174 c -1.074 -1.074 -2.815 -1.074 -3.889 0 L 0.805 48.209 c -1.074 1.074 -1.074 2.815 0 3.889 l 3.174 3.174 c 1.074 1.074 2.815 1.074 3.889 0 l 15.069 -15.069 l 14.994 14.994 c 1.074 1.074 2.815 1.074 3.889 0 l 1.614 -1.614 c 0.083 -0.066 0.17 -0.125 0.247 -0.202 l 37.1 -37.1 l 5.795 5.795 C 87.84 23.34 90 22.445 90 20.658 V 2.006 C 90 0.898 89.102 0 87.994 0 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\" \/><path d=\"M 65.626 37.8 v 49.45 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 23.518 L 65.626 37.8 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\" \/><path d=\"M 47.115 56.312 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 42.03 L 47.115 56.312 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\" \/><path d=\"M 39.876 60.503 c -1.937 0 -3.757 -0.754 -5.127 -2.124 l -6.146 -6.145 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 59.844 C 41.952 60.271 40.933 60.503 39.876 60.503 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\" \/><path d=\"M 22.937 46.567 L 11.051 58.453 c -0.298 0.298 -0.621 0.562 -0.959 0.8 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 48.004 L 22.937 46.567 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\" \/><\/g><\/svg><\/p>\n<div class=\"Collapsible-proLivePlayerCloseOrExpand\"><img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/a54b41835a8b60db28c2.svg\" class=\"Collapsible-dismissButton\" alt=\"hide content\"><\/div>\n<\/div>\n<div style=\"border:1px solid #d9d9d9;width:100%\" class=\"InteractiveChart-container\"><iframe title=\"Apple\" src=\"\/appchart?symbol=AAPL&amp;range=YTD&amp;type=mountain&amp;embedded=true&amp;$DEVICE$=undefined\" height=\"460\" scrolling=\"no\" style=\"border:0;width:100%\"><\/iframe><\/div>\n<div class=\"InteractiveChart-caption\">Apple<\/div>\n<\/div>\n<div class=\"group\">\n<p>Berkshire began buying Apple&#8217;s stock in 2016 under the influence of Buffett&#8217;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&#8217;s biggest and called the tech giant&nbsp;<span class=\"waslinkname\">the second-most important business<\/span> after his cluster of insurers.<\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>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 \u2014 <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-5\"><span class=\"waslinkname\">Bank of America<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>, shedding $3.8 billion worth of the bank shares after <span class=\"waslinkname\">a 12-day selling spree.<\/span> <\/p>\n<p>Overall, the quarterly report showed Buffett dumping stock last quarter, which saw the S&amp;P 500 rise to a record in anticipation of a &#8220;soft landing&#8221; for the U.S. economy. That soft landing was called into question this week with Friday&#8217;s <span class=\"waslinkname\">weaker-than-expected July jobs report.<\/span><\/p>\n<\/div>\n<div id=\"ArticleBody-MobileAdhesion\" class=\"MobileAdhesion-container\" data-module=\"mps-slot\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC Warren Buffett&#8217;s Berkshire Hathaway dumped nearly half of its gigantic Apple stake in a surprising move. The Omaha-based conglomerate disclosed that its holding in the iPhone maker was valued at $84.2 billion at the end of the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-75496","post","type-post","status-publish","format-standard","hentry","category-bussiness","no-thumb","no-post-featured"],"_links":{"self":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts\/75496"}],"collection":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/comments?post=75496"}],"version-history":[{"count":0,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts\/75496\/revisions"}],"wp:attachment":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/media?parent=75496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/categories?post=75496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/tags?post=75496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}