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Berkshire Hathaway trims Apple stake by 13%

Warren Buffett's Berkshire Hathaway (NYSE:BRKa) slashed its stake in Apple (NASDAQ:AAPL), today's quarterly earnings report showed.

Berkshire's Apple investment is now valued at $135.4 billion, reflecting ownership of approximately 790 million shares. This adjustment signifies a 13% decrease in the company's stake in the tech giant.

Still, Apple remains the largest holding in Berkshire's portfolio.

“It doesn’t bother me in the least to write that check — and I would really hope with all that America’s done for all of you, it shouldn’t bother you that we do it —and if I’m doing it at 21% this year and we’re doing it a little higher percentage later on, I don’t think you’ll actually mind the fact that we sold a little Apple this year,” Buffett said during Berkshire Hathaway’s annual meeting.

Apple stock surged last week after the tech giant announced a record $110 billion share buyback authorization despite falling iPhone sales. 

As of the end of the first quarter, Berkshire Hathaway remains the largest shareholder in Apple, excluding exchange-traded fund providers.

Earlier today, Warren Buffett-controlled company reported operating income of $11.22 billion, which represents a 32% rise from $8.48 billion in Q1 2023.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.