Financial firm Berkshire Hathway has spent a year reducing its shares of AAPL stock, which once took up half of chairman Warren Buffett’s entire portfolio.
Buffett meets with Apple CEO Tim Cook. Image credit: Apple
Buffett meets with Apple CEO Tim Cook. Image credit: Apple
For the fiscal third quarter 2024, which ended on September 30, Buffett still held $69.9 billion in AAPL, or around 300 million shares. One year ago, his firm had four times as many shares in the iPhone maker.
Berkshire Hathaway has given no reason for the year-long selloff, though other financial analysts have speculated that Buffett may consider the stock overvalued. AAPL is up 20 percent for the year so far, which compares to the average performance of the S&P 500 overall for 2024.