Apple stock getting hammered after international market crashes

Following both news of Berkshire Hathaway’s selling over half its holdings in the company, and a wider fear of recession taking a steep toll on international stock markets, Apple shares took a steep dive as trading began on Monday.

Warren Buffett is a long-time proponent of Apple, but it has now been revealed that his firm Berkshire Hathaway has now cut its investment by more than half. Chiefly as a result of this, shares in Apple initially declined by 11%, though they have since been recovering.

Buffett’s firm sold off its stock across the second quarter, now leaving it owning 2.8% of Apple. Despite the large sell-off, Berkshire Hathaway’s stake is worth around $88 billion.

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