Berkshire halves Apple stake; gets cash boost

By Reuters

Aug 05, 2024 12:07 am

WARREN Buffett appears to have soured on stocks, letting cash at Berkshire Hathaway soar to nearly $277 billion and selling about half its stake in Apple, even as the conglomerate posted a record quarterly operating profit.

Berkshire's results released on Saturday suggest the 93-year-old Buffett, one of the world's most revered investors, is growing wary about the broader US economy, or stock market valuations that have gotten too high.

Berkshire Hathaway Chairman Warren Buffer attends the company’s annual stockholders’ meeting on May 3, 2024. REUTERS PHOTO

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