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Home Business & Finance

Warren Buffet’s Berkshire Slashes Stake By Half

Nnaemeka OkwarabyNnaemeka Okwara
August 3, 2024
in Business & Finance
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Warren Buffet’s Berkshire Slashes Stake By Half
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Berkshire Hathaway controlled by the billionaire investor Warren Buffett, has significantly decreased its share in Apple’s stocks selling approximately $50 billion worth of shares during the second quarter.

As a result, Apple stake has become less than half of what was initially approximated (around $84 billion). According to regulatory filings by Berkshire, They have recorded a downslide of 50% in its investment into apple after selling shares worth $76 billion during the same time span.

Consequently, Berkshire’s cash holdings have increased to a highlevel, amounting to $277billion, an increase of $88 billion from last quarter’s figures.

In December 2021, Buffet’s started reducing Berkshire’s investments in Apple, with intensified sales in the starting months of 2024.

Consequently, Apples remains among the long-term fundamentals most favoured by Berkshire hence rivals like coca-cola and American Express have Apples as their counterparts.

In a statement, Buffett argued that there were better prospects for holding cash reserves amidst current market conditions, which is why he is retaining Apple as Berkshire’s number one investment.

Additionally, Berkshire sold $3.8 billion worth of Bank of America shares sold over a series of weeks, which reduced 12.1 percent value held at US banks.

Tags: BerkshireBuffetBusinessfederal characterhalfNewsStakeWarrenWarren Buffet’s Berkshire Slashes Stake By Half
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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