Berkshire Hathaway has cut its shares of Apple significantly over the past year. Its holdings in the company decreased from about $174.3 billion at the end of 2023 to just under $70 billion in Q3 of 2024, representing a two-thirds reduction.
Warren Buffett’s company now holds more than $325 billion in cash after selling off major stakes, including approximately $10 billion in Bank of America holdings. This push to increase cash reserves comes without any reported buybacks in Q3 2024.
Buffett hinted during a recent meeting that tax considerations could be influencing his decision to sell off Apple shares, suggesting he might be anticipating increases in capital gains tax.
While Berkshire Hathaway has not provided a detailed explanation for the sell-off of Apple shares, the reduction signals a significant strategic shift in Buffett's investment approach, as he prioritizes liquid cash over substantial equity stakes.
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