Berkshire Hathaway Strengthens Cash Position by Selling Apple Shares: Warren Buffett Talks Strategy at Shareholder Meeting

Berkshire Hathaway ( BRK ) strengthened its cash position after significantly reducing its stake in Apple ( AAPL ) in the first quarter of this year – a period in which the tech giant’s stock fell 11% following a rally. almost 50% in 2023.

“Unless something extraordinary happens that changes our capital allocation strategy significantly, we will have Apple as our largest investment, but I don’t mind building a cash position in the current environment. “I think when I look at the alternative of what’s available in the stock markets and I look at the mix of what’s going on in the world, we’re getting it to very attractive,” Warren Buffett, Berkshire’s chief executive, said in front of tens of thousands of shareholders gathered in Omaha.

Berkshire said in its quarterly report that the value of Apple shares it held at the end of the first quarter of the year was $135.4 billion, compared to $174.3 billion at the end of 2023. This would appear, taking into account AAPL stock prices at the same time. end of each period Berskire reduced its holdings by about 116 million shares, or nearly 13%, in three months.