Oracle of Omaha, Warren Buffett, has slashed Berkshire Hathaway's stake in $AAPL holdings by 50%.

Billionaire investor Warren Buffet surprised everyone when it was announced that his company, Berkshire Hathaway, sold half of its Apple stock holdings.

Warren Buffet, the CEO and chairman of Berkshire Hathaway, a multinational holding company has reduced its holdings of Apple shares from 790 million to 400 million, with the remaining shares valued at $84.2 billion.

The news comes just two days after Apple reported their fiscal 2024 Q3 earnings—the company generated $85.8 billion in revenue, a 4.87% increase Year-over-year. Apple’s profits are reported to be $21.45 billion, which is 7.88% increase Year-over-year. Apple’s individual stock price has also risen by ~$44 in the last 6 months

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Berkshire Hathaway’s selloff is not exclusive to Apple, the company has also sold off a sizable chunk of their holdings in Bank of America, as well as other companies over the past 7 months. As a result, Berkshire Hathaway has $277 billion in cash.

Due to the fact that this announcement came on a weekend, we won’t know how the market will react until Monday when trading resumes—although, given how revered Warren Buffet is as an investor, the stock price may become a little turbulent in the short term.

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