06.05.2024 15:42:22 - dpa-AFX: Warren Buffett's Berkshire Hathaway Cuts Stake In Apple

CUPERTINO (dpa-AFX) - Warren Buffett's Berkshire Hathaway has trimmed a
portion of its significant stake in tech giant Apple Inc., reportedly citing tax
reasons.

As per its first-quarter earnings report released over the weekend, Hathaway's
Apple stock was worth $135.4 billion as of March 31, 2024. This is lower than
the $174.3 billion worth Apple stock as of December 31, 2023.

During Berkshire Hathaway's annual shareholder meeting on Saturday, Buffett
stated that the sale was for tax reasons following significant gains.

Meanwhile, Buffett at the meeting added that it was extremely likely that the
iPhone maker will remain Berkshire's largest holding at the end of 2024.
Berkshire remains as Apple's largest shareholder outside of exchange-traded fund
providers.

Buffett reportedly had called the tech major his second-most important business
after Berkshire.

In the preceding fourth quarter, the Omaha-based conglomerate had reduced its
stake in Apple by about 10 million Apple shares, representing about 1 percent of
its stake.

Last week, Apple had announced that its board had authorized $110 billion in
share repurchases, the largest in company history.

In early May, Apple had reported weak earnings for its second quarter with lower
revenue, but above market estimates.

Apple's bottom line totaled $23.64 billion or $1.53 per share, compared to
$24.16 billion or $1.52 per share a year ago. Analysts on average had expected
the company to earn $1.50 per share, according to figures compiled by Thomson
Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.3 percent to $90.75 billion from
$94.84 billion last year.



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Copyright RTT News/dpa-AFX
Name WKN Börse Kurs Datum/Zeit Diff. Diff. % Geld Brief Erster Schluss
APPLE INC. 865985 Frankfurt 196,720 21.06.24 19:15:45 +1,520 +0,78% 196,380 196,500 195,580 195,200
BERKSHIRE HATHAWAY A DL 5 854075 Frankfurt 576.500,000 21.06.24 15:54:29 +5.500,000 +0,96% 575.000,000 578.000,000 574.500,000 571.000,000

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