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The first quarter saw a roughly 13% reduction in Apple investment at Berkshire Hathaway, led by Warren Buffett.

In the latest move by Warren Buffett’s Berkshire Hathaway, the conglomerate has continued to downsize its once sizable stake in Apple, marking the second consecutive quarter of trimming. Despite this reduction, Apple remains Berkshire’s largest holding, a testament to its enduring significance in the portfolio.

Buffett’s affinity for Apple dates back to years ago when one of his investment managers convinced him of its potential. At one point, he even dubbed the tech giant as Berkshire’s second-most important business, following its cluster of insurers. However, with Apple’s remarkable 48% surge in 2023, concerns over valuation have emerged. At its peak, Apple constituted a staggering 50% of Berkshire’s equity portfolio, prompting Buffett to address the imbalance.

The recent decision to reduce the stake could be attributed to these valuation concerns, particularly as Apple’s forward earnings multiple exceeded 27 times. Despite Apple’s announcement of a record $110 billion share repurchase program, concerns linger over its ability to reignite growth, especially considering recent declines in overall sales and iPhone sales.

Buffett’s adjustments to the Apple position are not unprecedented, as he had previously trimmed it in the fourth quarter of 2020, albeit later acknowledging it as a probable mistake. Nevertheless, such actions underscore Berkshire’s dynamic approach to portfolio management, even with its largest holdings.

Despite the reduction, Berkshire remains a significant shareholder in Apple, a position that distinguishes it outside the realm of exchange-traded fund providers. This ongoing saga reflects the intricate dance between Buffett’s investment philosophy and the evolving dynamics of the tech industry.

Sadhna B

Sadhna B

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