Dan Niles, senior portfolio manager at SATORI Fund, talks about Apple’s outlook for 2024 on “The Craman Countdown.”
Berkshire Hathaway sold some of its Apple shares.
With the sale of just over 10 million shares, Warren Buffett’s conglomerate reduced its holdings in Paramount Global by 32% in the fourth quarter and made other portfolio adjustments.
Despite the reduction, Berkshire Hathaway’s stake in Apple remains huge at more than 905.5 million shares, according to a filing with the Securities and Exchange Commission (SEC) on Wednesday. This equates to approximately $174.3 billion.
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FOX Business reached out to Apple for comment on Berkshire Hathaway’s move, but did not receive a response by press time.
The Apple Inc. logo on one of the company’s stores in Sydney, Australia, on Friday, March 18, 2022. The debut of Apple’s latest iPhone is changing the way U.S. customers buy devices, leading to a move toward fewer wireless carriers. (Photographer: Brent Lewin/Bloomberg via Getty Images / Getty Images)
Berkshire Hathaway’s investment in Apple goes back about eight years.
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Other changes the conglomerate made to its investments in the fourth quarter included selling some HP Inc. stock and acquiring Chevron and Occidental Petroleum Corporation stock, according to SEC filings. It included getting more.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| AAPL | Apple. | 182.31 | -1.55 | -0.84% |
| BRK.A | Berkshire Hathaway Co., Ltd. | 611,500.00 | +4,500.10 | +0.74% |
| BRK.B | Berkshire Hathaway Co., Ltd. | 405.81 | +2.38 | +0.59% |
Berkshire said its holdings, which also include stakes in companies such as Amazon, Bank of America, Coca-Cola and Visa, total nearly $374.4 billion. That means Apple accounts for about half of that.
Warren Buffett, Chairman and CEO of Berkshire Hathaway Photographer: Christopher Goodney/Bloomberg via Getty Images (Christopher Goodney/Bloomberg via Getty Images/Getty Images)
Shares of the tech giant, known for making products such as the iPhone, iPad, Mac and Vision Pro, have risen 19% over the past year, but have fallen about 1.5% since the beginning of January.
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According to Forbes, much of Buffett’s $133.5 billion in personal wealth comes from his Berkshire Hathaway stock.
Berkshire Hathaway Class B
