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Warren Buffett sells half of Berkshire Hathaway Apple stocks

  • By Al Mayadeen English
  • Source: Agencies
  • 4 Aug 2024 09:34
  • 2 Shares
2 Min Read

The holding company now has $277 billion in cash after the most recent divestiture which entailed the sale of 390 million Apple shares.

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  • Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interview, May 7, 2018, in Omaha, Nebraska (AP)
    Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interview, May 7, 2018, in Omaha, Nebraska. (AP)

According to the Financial Times on Saturday, citing a Berkshire Hathaway financial statement, US investor Warren Buffett's holding has nearly cut the company's stake in tech giant Apple in half.

Based on calculations by the FT, Berkshire sold roughly 390 million Apple shares, or roughly half of its stakes.

The corporation has been selling off shares for a number of quarters running, and market analysts, who follow Buffett's lead, say this shows investor uncertainty about potential gains in the US stock market.

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The holding company now has $277 billion in cash after the most recent divestiture. Buffett is still making short-term US Treasury investments at the same time, which has worked out well for him financially given the current high Fed interest rate.

Referring to Berkshire Hathaway's profits from investing in Treasury bills, FT stated that the corporation generated $2.6 billion in interest income in the second quarter of 2024 and $8 billion last year, more than the $5.4 billion it received in dividends on its $285 billion stock portfolio.

Read next: Warren Buffett says bank CEOs and directors should 'suffer'

This week, Apple released its third-quarter statistics, revealing a 5% increase in revenue—a little more than Wall Street had anticipated. 

  • United States
  • Berkshire Hathaway
  • Apple
  • Warren Buffett

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