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Buffett Cuts 13% of Apple Stake, Praises Company as Cash Hits $189 Billion

May 6, 2024, 01:07 PM

Warren Buffett's Berkshire Hathaway has significantly reduced its stake in Apple, selling about 13% of its shares, which Buffett described as an 'even better business' despite the reduction. Despite this, Apple remains Berkshire's largest investment. Concurrently, Berkshire Hathaway's cash reserves have swelled to a record $189 billion, marking a $19 billion increase from the previous quarter. This increase in cash holdings comes amid Buffett's cautious stance towards the current market conditions and his anticipation of potential fiscal policy changes, including possible tax increases to address the U.S. fiscal deficit.