Warren Buffett’s Berkshire Hathaway has slashed its stake in iPhone maker Apple in half as part of a selling spree in which the billionaire investor dumped $76bn of stocks.
The company cut its position in Apple by more than $50bn to $84.2bn in the second quarter, generating huge investment profits, according to filings published on Saturday.
The data suggested that Berkshire had sold roughly 390mn Apple shares, or about half of its stake, according to calculations by the Financial Times. The sales of Apple and other stocks produced an after-tax realised gain of $47.2bn, a sizeable return on an investment that was first initiated by one of Buffett’s deputies in 2016.
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