Warren Buffett and Berkshire Hathaway are selling Apple shares – what are they buying now? | Insurance business America
The conglomerate also significantly reduced its stake in a hardware-focused technology company
Insurance News
By Kenneth Araullo
Berkshire Hathaway, the conglomerate led by Warren Buffett, reduced its stake in Apple by about 1% in the final quarter of 2023, according to recent Securities and Exchange Commission (SEC) filings.
Following the sale, Berkshire Hathaway’s stake in Apple is now 5.9% of the tech giant, worth around $176 billion. This accounts for more than half of Berkshire Hathaway’s stock portfolio, whose total value is over $300 billion.
According to a report from Quartz, the decision to cut its Apple investments, coupled with the company’s significant 78% reduction in HP’s stake, is being interpreted by some market observers as an indicator of difficult times ahead for hardware-focused technology companies.
In contrast, Buffett’s recent investment decisions indicate a growing affinity for the energy sector. In the final quarter of 2023, the company increased its Chevron stake to over $18 billion and increased its stake in Occidental Petroleum to approximately $14.5 million.
Additionally, Berkshire Hathaway expanded its investment in SiriusXM, with its stake now valued at approximately $220 million, underscoring a strategic diversification of its investment portfolio toward energy and media stocks.
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2024-02-16 15:14:14
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