Apple Wire • 0 implied HN points • 03 Aug 24
- Warren Buffett's company, Berkshire Hathaway, has sold half of its Apple stock, dropping their holdings from 790 million to 400 million shares. This surprised a lot of people in the investment world.
- Despite this sell-off, Apple recently reported strong earnings, showing a revenue increase of nearly 5% and profits up almost 8% compared to last year. This is good news for Apple, even with Berkshire reducing their stake.
- Berkshire Hathaway has also been selling other investments, including shares in Bank of America, and now has a significant amount of cash available, totaling $277 billion. This could mean they are preparing for new investment opportunities.