Followers of the stock news of Apple probably already know that Warren Buffett, the investment tycoon, is a key shareholder through his investment company Berkshire Hathaway. However, Berkshire Hathaway has reported its first quarter results for 2024 and revealed that the company currently holds Apple stocks valued at $1.35 trillion, equivalent to 790 million shares. This marks a 13% decrease in the number of shares from the previous report, but Apple continues to be the largest investment in Berkshire’s portfolio.
In the second quarter, Berkshire Hathaway further reduced its Apple holdings, selling off 1% or approximately 10 million shares from the previous quarter. When asked about selling Apple shares, Warren Buffett explained that it was a tax-related decision due to the high returns from the large investment, resulting in significant tax implications. He believes Apple will remain the company’s top investment until the end of 2024.
Source: CNBC
TLDR: Warren Buffett’s Berkshire Hathaway reduces Apple stock holdings citing tax reasons, but still considers Apple as its top investment.
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