I said here many months ago that Buffet is caught naked with so many shares in Apple. Lucky for him, there is the bullshit story about Apple going into AI which sustained the price for him to get out. He should be completely out of Apple within next 6 months. Apple may be slowly heading in direction of Nokia.
Berkshire Hathaway Slashes Apple Stake by Nearly 50%
Berkshire Hathaway slashed its big stake in Apple by nearly 50% in the second quarter to about 400 million shares from 789 million shares in the first quarter, according to information in the company's 10-Q report released Saturday.Berkshire now holds about 2.6% of Apple and the stake was worth about $88 billion based on Friday's close of $219.86.The reduction in the Apple stake wasn't a surprise but the size of the cut was unexpected. Some Berkshire watchers had anticipated the decline because CEO Warren Buffett often continues to reduce a large equity stake once he begins cutting it. A drop of 100 million shares or so had been anticipated.Buffett may feel that Apple is fully priced at recent levels and that the holding, which was more than 40% of Berkshire's stock portfolio, had become too large. Berkshire is sitting on a large profit in the stock given that its cost basis is around $34 a share. Berkshire accumulated the stock largely between 2016 and 2018.Berkshire had held 905 mill
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