Apple is in trouble again. Legendary investor Warren Buffett has cut his enormous stake in the tech giant.
Berkshire Hathaway's management sharply reduced its Apple stock holdings during the first quarter of 2024. The market value of the company’s stake in the iPhone maker fell to $135.4 billion, or about 790 million shares. Notably, as of the end of the fourth quarter of 2023, the Buffett-led firm held 905.56 million Apple shares.
As a result, the amount of Apple stock owned by Berkshire Hathaway fell by nearly 13% in the first quarter of 2024.
Earlier, Warren Buffett's conglomerate reported a loss of $12.8 billion in the third quarter of 2023.
