Mrzorro
11-03

Berkshire Sold 25% of Its Apple Stock in the Third Quarter


Berkshire Hathaway sold 100 million shares of $Apple(AAPL)$   in the third quarter, reducing its stake in the iPhone maker to 300 million shares.

The 25% reduction in its stake follows a nearly 50% cut in the second quarter. Berkshire's overall Apple stake is now down by about two thirds, -- from 905 million shares -- since the start of the year.

Barron's calculation of the Sept. 30 Apple stake is based on information on the Apple holding in Berkshire's third-quarter 10-Q which was released in conjunction with the company's earnings report on Saturday morning.

CEO Warren Buffett said at Berkshire's annual meeting in May that the Apple stake would likely be the company's largest equity holding at the end of the year.

For selling Apple to make logical sense, Buffett would have to believe that there's a likelihood that taxes on stock sales will go up enough to offset future gains in Apple's stock price, so as to wipe out the potential benefit of holding onto the stock.

Berkshire has a large gain in its Apple stake having paid an average price of about $35 a share. The purchases were made largely between 2016 and 2018.

Apple closed Friday at $222.91.



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Comments

  • Eatmi
    11-04
    Eatmi
    这篇文章不错,转发给大家看看
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