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Warren Buffett's Berkshire Hathaway cut its Apple (AAPL) holdings in half during Q2 2024

The Oracle of Omaha is thinking different about one of Berkshire Hathaway's largest holdings, with the company cutting its AAPL stake by nearly 50% during the second quarter.

Asif Khan

August 3, 2024 2:10 PM

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Berkshire Hathaway Inc. is out with Q2 2024 earnings results, and one bit of news that is drawing the attention of a lot of investors is the news that the company has cut its stake in Apple by nearly 50% in the last three months. It appears that Warren Buffett is taking some risk off of the table with the conglomerate now sitting at $277 billion in cash on the balance sheet.

The Oracle of Omaha's portfolio company still held $84.2 billion of Apple shares at the end of Q2 2024, but this is the second time in as many quarters that the position has been reduced. Apple reported strong Q3 2024 earnings results, beating analyst expectations, but there was some weakness in iPhone sales during the quarter.

Berkshire Hathaway also sold a large chunk of its second largest holding Bank of America (BAC) during the quarter. Buffett commented in May that he didn't really see many attractive investment opportunities in the stock market. 

The news of Berkshire Hathaway's cash stockpiling comes after 2024's worst day for U.S. equities. Many stocks were down double digits yesterday, with the Volatility Index popping nearly 50% at its high on Friday. Are you reassessing your risk heading into a potential recession and uncertainty surrounding the United States presidential election? Let us know in the Shacknews Chatty comment section below.

This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.

Full Disclosure:

At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:

Long Apple via AAPL shares

Asif Khan

CEO/EIC/EIEIO

Asif Khan is the CEO, EIC, and majority shareholder of Shacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, he retired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.