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What will be Berkshire Hathaway's operating profit for Q4 2024?
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Berkshire Hathaway's financial statements and quarterly reports
Story
Berkshire Hathaway Cuts Apple Stake by Nearly 50%, Cash Reserves Hit Record $278B
Aug 3, 2024, 12:31 PM
Berkshire Hathaway, led by Warren Buffett, has significantly reduced its stake in Apple, selling nearly 50% of its holdings during the second quarter of 2024. The company's Apple shares decreased from 789 million to 400 million, reducing the value of its Apple holdings from $135.4 billion to $84.2 billion. This move comes as Berkshire's cash reserves reached a record $278 billion, up from $189 billion at the end of the first quarter. Additionally, Berkshire Hathaway's operating profit rose by 15% to $11.6 billion in the same period. The decision to sell a substantial portion of Apple shares has raised questions about Buffett's outlook on the tech sector, especially given Apple's stock performance, which increased by 22.82% during the quarter.
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