Warren Buffett’s Berkshire Hathaway sold 20 million Apple shares in Q2

Warren Buffett on May 4, 2024
Warren Buffett’s Berkshire Hathaway offloaded 20 million Apple shares in the second quarter, further reducing its stake in the Cupertino-based technology company.
Krystal Hur for The Wall Street Journal:
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Berkshire sold 20 million shares of Apple in the three months ended in June. The company shed a big slice of Apple last year. Still, Apple remains Berkshire’s largest holding, along with American Express, Bank of America, Coca-Cola and Chevron.
Apple’s shares recently traded at about 30 times its projected earnings over the next 12 months, according to FactSet. The stock fell 0.1% in after-hours trading Thursday, and has slipped 7% this year.
Berkshire disclosed the moves in a regulatory filing made public after the market closed Thursday. Institutional investors managing at least $100 million in U.S. stocks and certain other equities must disclose their holdings at the end of each quarter in Form 13F filings with the Securities and Exchange Commission. 

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MacDailyNews Take: If, during April 1 – June 30, Buffet sold on April 2nd at Apple’s highest price of $225.19, he’d have lost $7.59 per share on paper vs. today’s close of $232.78 or $151.8 million. If Buffet sold at Apple’s lowest price during the period, $169.21 (Apr. 8), he’d have lost $63.57 per share on paper vs. today’s close or $1.2714 billion.
Based on today’s close, Warren Buffett’s Berkshire Hathaway lost somewhere between $151.8 million – $1.2714 billion by selling 20 million shares of Apple stock in the three months ended in June.

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