TECH - Warren Buffett's Confidence In Apple Wanes? Berkshire Cuts Stake By 18% Amid Tech Giant's Troubles. | Benzinga
Warren Buffett’s Berkshire, Inc. (NYSE:BRK) (NYSE:BRK) trimmed its position in its key core holding, Apple, Inc. (NASDAQ:AAPL), a 10-Q report for the first quarter filed with the SEC on Saturday showed.
Paring Equity Bets: Berkshire’s equity securities investment dropped from $353.84 billion in Q1 2023 to $335.86 billion in Q1 2024. Sector-wise, the firm reduced its exposure to banks, insurance and finance as well as consumer products, while upping its stakes in commercial, industrial and other stocks.
The proportion of money invested in Berkshire’s five core holdings, namely Apple, Bank of America Corp. (NYSE:BAC), American Express Co. (NYSE:AXP), Coca-Cola Co. (NYSE:KO) and Chevron Corp. (NYSE:CVX) fell from 79% in the year-ago quarter to 75%.
The comparisons vs. a ...