{"id":2773,"date":"2024-08-04T17:21:16","date_gmt":"2024-08-04T17:21:16","guid":{"rendered":"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/"},"modified":"2024-08-04T17:21:16","modified_gmt":"2024-08-04T17:21:16","slug":"warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter","status":"publish","type":"news-new","link":"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/","title":{"rendered":"Warren Buffett surprises by slashing Berkshire Hathaway&#8217;s longtime Apple stake in second quarter"},"content":{"rendered":"<div class=\"theme-e FITT_Article_main__body oBTii mrzah\" data-testid=\"prism-GridColumn\" style=\"--grid-column-span-xxs:var(--grid-columns);--grid-column-span-xs:var(--grid-columns);--grid-column-span-sm:var(--grid-columns);--grid-column-span-md:20;--grid-column-span-lg:14;--grid-column-span-xl:14;--grid-column-span-xxl:14;--grid-column-start-xxs:auto;--grid-column-start-xs:auto;--grid-column-start-sm:auto;--grid-column-start-md:3;--grid-column-start-lg:0;--grid-column-start-xl:0;--grid-column-start-xxl:2\">\n<div style=\"--spacing-top:40px;--spacing-bottom:32px;--spacing-child-top:initial;--spacing-child-bottom:24px;--spacing-firstChild-top:initial;--spacing-firstChild-bottom:initial;--spacing-lastChild-top:initial;--spacing-lastChild-bottom:initial;--spacing-compact-top:24px;--spacing-compact-bottom:32px;--spacing-firstChild-compact-top:initial;--spacing-firstChild-compact-bottom:initial;--spacing-child-compact-top:initial;--spacing-child-compact-bottom:24px;--spacing-lastChild-compact-top:initial;--spacing-lastChild-compact-bottom:initial\" class=\"dHdHP jLREf zXXje aGO eCClZ nTLv jLsYA gmuro TOSFd VmeZt sCkVm hkQai wGrlE MUuGM fciaN qQjt DhNVo Tgcqk IGLAf tWjkv\">\n<div class=\"kCTVx qtHut lqtkC HkWF HfYhe kGyAC\" data-testid=\"prism-headline\">\n<h1 class=\"vMjAx gjbzK WaKtx eHrJ mTgUP\"><span class=\"gtOSm FbbUW tUtYa vOCwz EQwFq yCufu eEak Qmvg nyTIa SRXVc vzLa jgBfc WXDas CiUCW kqbG zrdEG txGfn ygKVe BbezD UOtxr CVfpq xijV soGRS XgdC sEIlf daWqJ\">Warren Buffett surprises by slashing Berkshire Hathaway&#8217;s longtime Apple stake in second quarter<\/span><\/h1>\n<p class=\"jxTEW Poyse uieav lqtkC HkWF HfYhe kGyAC\"><span class=\"gtOSm FbbUW tUtYa vOCwz EQwFq yCufu eEak Qmvg nyTIa SRXVc vzLa jgBfc WXDas CiUCW kqbG zrdEG txGfn ygKVe BbezD UOtxr CVfpq xijV soGRS XgdC sEIlf daWqJ\">Warren Buffett&#8217;s move could prove unsettling for the broader stock market.<\/span><\/p>\n<\/div>\n<div class=\"QHblV nkdHX kvZxL hTosT whbOj\" data-testid=\"prism-byline\">\n<div class=\"VZTD mLASH OcxMG oJce\">\n<div class=\"kKfXc VZTD rEPuv\">\n<div class=\"TQPvQ fVlAg HUcap kxY REjk UamUc WxHIR HhZOB yaUf VOJBn KMpjV XSbaH Umfib ukdDD\"><span class=\"tChGB zbFav\">By<\/span><span>JOSH FUNK AP business writer<\/span><\/div>\n<div class=\"VZTD mLASH gpiba\">\n<div class=\"xAPpq JQYD ZdbeE  jTKbV pCRh\">August 3, 2024, 9:41 AM<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"RwkLV Wowzl FokqZ LhXlJ FjRYD toBqx\" data-testid=\"prism-share\">\n<div class=\"JpUfa aYoBt\">\n<ul class=\"MZaCt dUXCH nyWZo RnMws Hdwln WBHfo tAchw UDeQM XMkl NUfbq kqfZ\">\n<li class=\"WEJto\"><button aria-label=\"Share Story on Facebook\" class=\"theme-EWITS mLASH egFzk qXWHA ScoIf ZXRVe jIRH NoTgg OJpwZ uklrk wSPfd ofvJb nMRSd YIauu gGlNh ARCOA kyjTO xqlN aANqO aNnIu GDslh LjPJo RpDvg YYtC rTpcz EDgo UVTAB ihLsD niWVk GYdIS Bdkqu iTpTL Esicv kOEGk WMbJE eVJEc TElCQ ZAqMY enocc pJSQ pvoyF aaksc OKklU ATKRo RfOGv neOGk fuOso DwqSE fnpin ArvQf dUniT Mzjkf Niff NKnwO ijAAn dEuPM vwJ JmUFf sgyq cRbVn sBVbK fCfdG oMkBz aOwuK XsORH EgRXa hMVHb LTwlP jJbTO CnYjj TiUFI qeCAC xqvdn JaQpT dAfv PNgfG fIWCu NewES UJNbG EgBCK UvFHa lCCRi XDQHW spAMS TPSuu sbdDW askuE VsLUC YHsrW pYmVc eHvZI qRTXS odcNV NzKLB DbNtg nKDCU gTRVo iCOvJ znFR hjDDH JboFf OBVry WDGKU nhtNI SSBnQ\" data-testid=\"prism-Button\" type=\"button\" aria-expanded=\"false\" aria-haspopup=\"dialog\"><span class=\"CSJky pdAzW JSFPu\"><svg aria-hidden=\"true\" class=\"\" data-testid=\"prism-iconography\" height=\"1em\" role=\"presentation\" viewbox=\"0 0 32 32\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" data-icon=\"social-facebook\"><path fill=\"currentColor\" d=\"M32 16.098C32 7.207 24.837 0 16 0S0 7.207 0 16.098C0 24.133 5.851 30.793 13.5 32V20.751H9.437v-4.653H13.5v-3.547c0-4.035 2.389-6.263 6.043-6.263 1.751 0 3.582.314 3.582.314v3.962h-2.018c-1.988 0-2.607 1.241-2.607 2.514v3.02h4.438l-.709 4.653h-3.728V32c7.649-1.207 13.5-7.867 13.5-15.902z\"\/><\/svg><\/span><\/button><\/li>\n<li class=\"WEJto\"><button aria-label=\"Share Story on X\" class=\"theme-EWITS mLASH egFzk qXWHA ScoIf ZXRVe jIRH NoTgg OJpwZ uklrk wSPfd ofvJb nMRSd YIauu gGlNh ARCOA kyjTO xqlN aANqO aNnIu GDslh LjPJo RpDvg YYtC rTpcz EDgo UVTAB ihLsD niWVk GYdIS Bdkqu iTpTL Esicv kOEGk WMbJE eVJEc TElCQ ZAqMY enocc pJSQ pvoyF aaksc OKklU ATKRo RfOGv neOGk fuOso DwqSE fnpin ArvQf dUniT Mzjkf Niff NKnwO ijAAn dEuPM vwJ JmUFf sgyq cRbVn sBVbK fCfdG oMkBz aOwuK XsORH EgRXa hMVHb LTwlP jJbTO CnYjj TiUFI qeCAC xqvdn JaQpT dAfv PNgfG fIWCu NewES UJNbG EgBCK UvFHa lCCRi XDQHW spAMS TPSuu sbdDW askuE VsLUC YHsrW pYmVc eHvZI qRTXS odcNV NzKLB DbNtg nKDCU gTRVo iCOvJ znFR hjDDH JboFf OBVry WDGKU nhtNI SSBnQ\" data-testid=\"prism-Button\" type=\"button\" aria-expanded=\"false\" aria-haspopup=\"dialog\"><span class=\"CSJky pdAzW JSFPu\"><svg aria-hidden=\"true\" class=\"\" data-testid=\"prism-iconography\" height=\"1em\" role=\"presentation\" viewbox=\"0 0 32 32\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" data-icon=\"social-x\"><path fill=\"currentColor\" d=\"M23.668 4h4.089l-8.933 10.21 10.509 13.894h-8.23l-6.445-8.427-7.375 8.427H3.191l9.555-10.921L2.665 4h8.436l5.826 7.702L23.664 4zm-1.437 21.657h2.266L9.874 6.319H7.443l14.791 19.338z\"\/><\/svg><\/span><\/button><\/li>\n<li class=\"WEJto\"><button aria-label=\"Share Story by Email\" class=\"theme-EWITS mLASH egFzk qXWHA ScoIf ZXRVe jIRH NoTgg OJpwZ uklrk wSPfd ofvJb nMRSd YIauu gGlNh ARCOA kyjTO xqlN aANqO aNnIu GDslh LjPJo RpDvg YYtC rTpcz EDgo UVTAB ihLsD niWVk GYdIS Bdkqu iTpTL Esicv kOEGk WMbJE eVJEc TElCQ ZAqMY enocc pJSQ pvoyF aaksc OKklU ATKRo RfOGv neOGk fuOso DwqSE fnpin ArvQf dUniT Mzjkf Niff NKnwO ijAAn dEuPM vwJ JmUFf sgyq cRbVn sBVbK fCfdG oMkBz aOwuK XsORH EgRXa hMVHb LTwlP jJbTO CnYjj TiUFI qeCAC xqvdn JaQpT dAfv PNgfG fIWCu NewES UJNbG EgBCK UvFHa lCCRi XDQHW spAMS TPSuu sbdDW askuE VsLUC YHsrW pYmVc eHvZI qRTXS odcNV NzKLB DbNtg nKDCU gTRVo iCOvJ znFR hjDDH JboFf OBVry WDGKU nhtNI SSBnQ\" data-testid=\"prism-Button\" type=\"button\" aria-expanded=\"false\" aria-haspopup=\"dialog\"><span class=\"CSJky pdAzW JSFPu\"><svg aria-hidden=\"true\" class=\"\" data-testid=\"prism-iconography\" height=\"1em\" role=\"presentation\" viewbox=\"0 0 32 27\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" data-icon=\"social-email\"><path fill=\"currentColor\" d=\"M.75 1.5v24h30v-24h-30zm3 6.069V4.5h24v3.069l-12 6.284-12-6.284zm24 3.387V22.5h-24V10.956l12 6.282 12-6.282z\"\/><\/svg><\/span><\/button><\/li>\n<li class=\"WEJto\">\n<div><button aria-label=\"Copy Link\" class=\"theme-EWITS mLASH egFzk qXWHA ScoIf ZXRVe jIRH NoTgg OJpwZ uklrk wSPfd ofvJb nMRSd YIauu gGlNh ARCOA kyjTO xqlN aANqO aNnIu GDslh LjPJo RpDvg YYtC rTpcz EDgo UVTAB ihLsD niWVk GYdIS Bdkqu iTpTL Esicv kOEGk WMbJE eVJEc TElCQ ZAqMY enocc pJSQ pvoyF aaksc OKklU ATKRo RfOGv neOGk fuOso DwqSE fnpin ArvQf dUniT Mzjkf Niff NKnwO ijAAn dEuPM vwJ JmUFf sgyq cRbVn sBVbK fCfdG oMkBz aOwuK XsORH EgRXa hMVHb LTwlP jJbTO CnYjj TiUFI qeCAC xqvdn JaQpT dAfv PNgfG fIWCu NewES UJNbG EgBCK UvFHa lCCRi XDQHW spAMS TPSuu sbdDW askuE VsLUC YHsrW pYmVc eHvZI qRTXS odcNV NzKLB DbNtg nKDCU gTRVo iCOvJ znFR hjDDH JboFf OBVry WDGKU nhtNI SSBnQ\" data-testid=\"prism-Button\" type=\"button\" aria-expanded=\"false\" aria-haspopup=\"dialog\"><span class=\"CSJky pdAzW JSFPu\"><svg aria-hidden=\"true\" class=\"\" data-testid=\"prism-iconography\" height=\"1em\" role=\"presentation\" viewbox=\"0 0 32 32\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" data-icon=\"social-link\"><path fill=\"currentColor\" d=\"M29.657 2.343c-.8-.8-1.714-1.371-2.629-1.771s-2-.571-3.029-.571-2.057.171-3.029.571-1.886.971-2.629 1.771l-7.314 7.314c-1.371 1.6-2 3.543-1.943 5.486s.857 3.886 2.343 5.371c.343.343.743.686 1.143.914.4.286.8.514 1.257.686l2.743-2.743c-.514-.057-1.029-.171-1.486-.4s-.914-.514-1.257-.914c-.857-.857-1.257-1.943-1.314-3.029s.286-2.229 1.029-3.143l7.2-7.2c.457-.343.971-.686 1.486-.914a4.576 4.576 0 011.714-.343c.629 0 1.2.114 1.771.343s1.029.571 1.486.971c.914.914 1.371 2.114 1.371 3.257s-.457 2.343-1.314 3.257l-1.543 1.486-1.543 1.543.343 1.371c.057.457.114.971.114 1.429 0 .286 0 .571-.057.857 0 .286-.057.571-.114.857l5.257-5.143c1.543-1.543 2.343-3.6 2.343-5.657s-.857-4.114-2.4-5.657z\"\/><path fill=\"currentColor\" d=\"M21.886 13.2l-.171-.343c-.057-.114-.114-.171-.171-.286l-.114-.114c-.057-.057-.114-.171-.171-.229s-.114-.114-.171-.229-.171-.171-.229-.286-.229-.171-.286-.286c-.343-.343-.743-.686-1.143-.914a5.39 5.39 0 00-1.257-.686L15.43 12.57c.514.057 1.029.229 1.486.4.457.229.857.514 1.257.857.057.057.171.171.229.286s.171.171.229.286c0 .057.057.057.057.114s.057.057.057.114.114.171.171.229.114.171.114.229c0 0 0 .057.057.114 0 .057 0 .057.057.114s.057.171.114.229c.057.114.057.171.114.286v.114c0 .114.057.229.057.286 0 .114.057.229.057.343.114.686.057 1.371-.171 2.057s-.571 1.257-1.086 1.771l-7.2 7.2c-.4.343-.857.629-1.371.8-.571.057-1.143.171-1.657.171-.629 0-1.2-.114-1.771-.343s-1.029-.571-1.486-.971c-.857-.857-1.257-1.943-1.314-3.029s.286-2.229 1.029-3.143l3.314-3.314c-.229-.743-.343-1.543-.4-2.286-.057-.8 0-1.543.171-2.343l-5.6 5.6c-1.371 1.6-2 3.543-1.943 5.543a7.944 7.944 0 002.343 5.371c.8.8 1.657 1.371 2.629 1.771s2 .571 3.029.571c.914 0 1.886-.171 2.743-.514a8.11 8.11 0 002.514-1.486l7.314-7.314a7.936 7.936 0 002.286-4.629 8.21 8.21 0 00-.971-4.857z\"\/><\/svg><\/span><\/button><\/p>\n<div class=\"xdNAs rMQsN cELo NoeP BtinW YHmbu hWtE\"><\/div>\n<\/div>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"\">\n<div>\n<div class=\"FeaturedMedia\">\n<div class=\"ResponsiveWrapper\">\n<aside class=\"InlineElement InlineElement--content-width InlineElement--desktop InlineVideo FeaturedVideo\" aria-label=\"Video\">\n<div class=\"SingleVideo\">\n<div class=\"MediaPlaceholder relative MediaPlaceholder--16x9 cursor-pointer\" aria-hidden=\"false\">\n<figure class=\"Image aspect-ratio--parent MediaPlaceholder__Image\">\n<div class=\"RatioFrame aspect-ratio--16x9\"><\/div>\n<div class=\"Image__Wrapper aspect-ratio--child\"><img decoding=\"async\" aria-hidden=\"false\" alt=\"\" class=\"\" data-mptype=\"image\" src=\"https:\/\/i.abcnewsfe.com\/a\/0af9d59f-4ab5-4e2c-844a-cdf695f681c4\/wirestory_7af22b7ad654ba012d8e8803ed694aea_16x9.jpg?w=992\"\/><\/div>\n<\/figure>\n<div class=\"MediaPlaceholder__Overlay absolute-fill flex flex-center-all\">\n<div class=\"MediaPlaceholder__Button flex flex-center-all\"><svg focusable=\"false\" aria-hidden=\"true\" class=\"MediaPlaceholder__Icon MediaPlaceholder__Icon--video icon__svg\" viewbox=\"0 0 24 24\"><use xlink:href=\"http:\/\/abcnews.go.com\/#icon__controls__play\"><\/use><\/svg><\/div>\n<div aria-hidden=\"true\" class=\"MediaPlaceholder__Pill  items-center absolute flex\">1:16<\/div>\n<\/div>\n<div class=\"MediaPlaceholder__PlaybackWrapper absolute-fill\"><\/div>\n<\/div>\n<div class=\"Caption__Wrapper\">\n<div class=\"Caption\">\n<div class=\"Caption__TextWrapper\">\n<div class=\"Caption__Text\" aria-live=\"polite\"><span class=\"Truncate Truncate--collapsed\"><span><span class=\"RichText\">An Apple logo hangs at a Palo Alto, Calif., Apple store on Friday, Feb. 2, 2024. (AP Photo\/Noah Berger)<\/span><\/span><\/span><\/div>\n<\/div>\n<p><span aria-label=\"The Associated Press\" class=\"RichText Caption__Credit\">The Associated Press<\/span><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ScrollSpy_container\"><span><\/span><\/div>\n<div class=\"XQpSH\" data-testid=\"prism-divider\"><\/div>\n<div class=\"xvlfx ZRifP TKoO eaKKC bOdfO\" data-testid=\"prism-article-body\">\n<p class=\"EkqkG nlgHS yuUao MvWXB TjIXL aGjvy ebVHC\"><span class=\"oyrPY qlwaB AGxeB\">OMAHA, Neb. &#8212; <\/span>Billionaire <a class=\"zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE\" data-testid=\"prism-linkbase\" href=\"https:\/\/apnews.com\/hub\/warren-buffett\">Warren Buffett<\/a> slashed Berkshire Hathaway&#x27;s massive <a class=\"zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE\" data-testid=\"prism-linkbase\" href=\"https:\/\/apnews.com\/hub\/apple-inc\">Apple<\/a> stake in a move that could prove unsettling for the broader stock market \u2014 both because the investor is so revered and because there had been little positive financial news lately. <\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Just two years ago Buffett called the stock one of the four giants of his conglomerate&#x27;s business alongside Berkshire insurance, utility and BNSF railroad businesses that it owns outright. That gave investors the impression that Buffett might hold onto Apple indefinitely as he has with the Coca-Cola and American Express shares he bought decades ago.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">However, he has trimmed the Apple stake over the past year and has recently also sold off some of his stock in Bank of America and Chinese EV maker BYD while doing very little buying.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">As a result, Buffett is now sitting on nearly $277 billion in cash, up from what was already a record $189 billion just three months earlier. <\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">\u201cThis could could alarm the markets especially given the news from last week\u201d with weak tech earnings, a disappointing jobs report and uncertainty about the future of interest rates, Edward Jones analyst Jim Shanahan said.<\/p>\n<div class=\"oLzSq QrHMO GbsKS pvsTF EhJPu vPlOC zNYgW OsTsW AMhAA daRVX ISNQ sKyCY eRftA acPPc ebfE nFwaT MCnQE mEeeY SmBjI xegrY VvTxJ iulOd NIuqO zzscu lzDCc aHUBM hbvnu OjMNy eQqcx SVqKB GQmdz jaoD iShaE ONJdw vrZxD OnRTz gbbfF roDbV kRoBe oMlSS gfNzt oJhud eXZcf zhVlX\">\n<div data-testid=\"prism-ad-wrapper\" style=\"transition:min-height 0.3s linear 1s\" data-ad-placeholder=\"true\">\n<div data-box-type=\"fitt-adbox-fitt-article-inline-outstream\" data-testid=\"prism-ad\">\n<div class=\"Ad fitt-article-inline-outstream  ad-slot\" data-slot-type=\"fitt-article-inline-outstream\" data-slot-kvps=\"pos=fitt-article-inline-outstream-1\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Buffett has consistently lavished praise on Apple CEO Tim Cook, who attended Berkshire&#x27;s annual meeting in Omaha <a class=\"zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE\" data-testid=\"prism-linkbase\" href=\"https:\/\/apnews.com\/article\/berkshire-hathaway-warren-buffett-shareholders-meeting-b345638b402f5ef2f9f9d7080eff0978\">in May<\/a>, and talked about the way consumers are <a class=\"zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE\" data-testid=\"prism-linkbase\" href=\"https:\/\/apnews.com\/article\/apple-quarterly-earnings-iphone-artificial-intelligence-112e9d950a3f842ce32a4b86d0bdc0e7\">feverishly devoted to their iPhones<\/a> and don&#x27;t like to switch. He did trim more than 10% of Berkshire&#x27;s Apple stake in the first three months of this year when he sold off more than 116 million shares, but the sale disclosed Saturday was a much bigger move.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Wedbush tech analyst Dan Ives said in a research note that he thinks \u201cBuffett is a core believer in Apple and we do not view this as a smoke signal for bad news ahead.\u201d Apple remains the largest investment in Berkshire&#x27;s portfolio by far \u2014 more than double its Bank of America stake. <\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Ives said he thinks the recent tech sell-off is only a temporary distraction from the industry&#x27;s long-term boom.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Berkshire didn\u2019t give an exact count of its Apple shares in Saturday\u2019s report, but it estimated the investment was worth $84.2 billion at the end of the second quarter even though shares soared over the summer as high as $237.23. At the end of the first quarter, Berkshire\u2019s Apple stake was worth $135.4 billion.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Shanahan estimates that Berkshire still holds about 400 million Apple shares.<\/p>\n<div class=\"oLzSq QrHMO GbsKS pvsTF EhJPu vPlOC zNYgW OsTsW AMhAA daRVX ISNQ sKyCY eRftA acPPc ebfE nFwaT MCnQE mEeeY SmBjI xegrY VvTxJ iulOd NIuqO zzscu lzDCc aHUBM hbvnu OjMNy eQqcx SVqKB GQmdz jaoD iShaE ONJdw vrZxD OnRTz gbbfF roDbV kRoBe oMlSS gfNzt oJhud eXZcf zhVlX\">\n<div data-testid=\"prism-ad-wrapper\" style=\"min-height:250px;transition:min-height 0.3s linear 0s\" data-ad-placeholder=\"true\">\n<div data-box-type=\"fitt-adbox-fitt-article-inline-box\" data-testid=\"prism-ad\">\n<div class=\"Ad fitt-article-inline-box  ad-slot\" data-slot-type=\"fitt-article-inline-box\" data-slot-kvps=\"pos=fitt-article-inline-box\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Still, while CFRA Research analyst Cathy Seifert said she looks at the Apple sale more as responsible portfolio management because the tech giant had become such a large portion of Berkshire&#x27;s holdings, it does look like Buffett may be preparing for a downturn.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">\u201cThis is a company girding itself for a weaker economic climate,\u201d Seifert said.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Berkshire reported a small drop in its bottom-line earnings because of a drop in the paper value of its investments. The company said it earned $30.348 billion, or $21,122 per Class A share, during the second quarter. That\u2019s down from $35.912 billion, or $24,775 per A share, a year ago.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Buffett has long cautioned investors that it&#x27;s better to look at Berkshire&#x27;s operating earnings when judging its performance because those figures exclude investment gains and losses which can vary widely from quarter to quarter. <\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">By that measure, Berkshire&#x27;s operating earnings grew more than 15% to $11.598 billion, or $8,072.16 per Class A share, from $10.043 billion, or $6,928.40 per Class A share, a year ago. Geico led the improvement of Berkshire&#x27;s businesses while many of its other companies that are more sensitive <a class=\"zZygg UbGlr iFzkS qdXbA WCDhQ DbOXS tqUtK GpWVU iJYzE\" data-testid=\"prism-linkbase\" href=\"https:\/\/apnews.com\/article\/economy-growth-inflation-gdp-consumers-federal-reserve-ffba812f747d18d1f09fcf804fe4eceb\">to the economy<\/a> reported lackluster results.<\/p>\n<div class=\"oLzSq QrHMO GbsKS pvsTF EhJPu vPlOC zNYgW OsTsW AMhAA daRVX ISNQ sKyCY eRftA acPPc ebfE nFwaT MCnQE mEeeY SmBjI xegrY VvTxJ iulOd NIuqO zzscu lzDCc aHUBM hbvnu OjMNy eQqcx SVqKB GQmdz jaoD iShaE ONJdw vrZxD OnRTz gbbfF roDbV kRoBe oMlSS gfNzt oJhud eXZcf zhVlX\">\n<div data-testid=\"prism-ad-wrapper\" style=\"transition:min-height 0.3s linear 1s\" data-ad-placeholder=\"true\">\n<div data-box-type=\"fitt-adbox-fitt-article-inline-outstream\" data-testid=\"prism-ad\">\n<div class=\"Ad fitt-article-inline-outstream  ad-slot\" data-slot-type=\"fitt-article-inline-outstream\" data-slot-kvps=\"pos=fitt-article-inline-outstream-2\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">The results easily topped the $6,530.25 earnings per share that four analysts surveyed by FactSet Research predicted.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC eTIW sUzSN\">Berkshire owns an assortment of insurance businesses along with BNSF railroad, several major utilities and a varied collection of retail and manufacturing businesses, including brands like Dairy Queen and See&#x27;s Candy.<\/p>\n<\/div>\n<div>\n<div data-testid=\"prism-tags\">\n<h2 class=\"QOIir pZjYK JKlkC RZhHM\">Related Topics<\/h2>\n<ul class=\"VZTD UeCOM dAmzA ltDkr qBPOY uoPjL\">\n<li class=\"\"><a class=\"theme-HLysv theme-HReFq mLASH egFzk qXWHA ScoIf zYXIH jIRH wNxoc OJpwZ eqFg wSPfd ofvJb bMrzT LaUnX EgONj ibBnq kyjTO lvyBv aANqO aNnIu GDslh LjPJo RpDvg YYtC rTpcz EDgo SIwmX oIWqB mzm sXtkB yayQB vXSTR ENhiS dQa-Du SVBll bpBbX GpQCA tuAKv xTell wdAqb ZqGqs LVAIE TnrRA uECag DcwSV XnBOJ cELRj SUAFz XzYk zkmjG aSyef pFen hoNVj TQOOL Haltu NafGB KpEhF jyjDy kZHqU FZKIw QddLR SKDYB UmcQM giepU cTjQC aRMla MMxXy fFMcX PbMFf hJRbU MRTyf iFJTR koyYF TkdYt DZNRX MALjb VUFMN\" data-testid=\"prism-Tag\" href=\"http:\/\/abcnews.go.com\/alerts\/WarrenBuffett\" data-pos=\"0\"><span class=\"QXDKT rGjeC tuAKv iMbiE\">Warren Buffett<\/span><\/a><\/li>\n<li class=\"\"><a class=\"theme-HLysv theme-HReFq mLASH egFzk qXWHA ScoIf zYXIH jIRH wNxoc OJpwZ eqFg wSPfd ofvJb bMrzT LaUnX EgONj ibBnq kyjTO lvyBv aANqO aNnIu GDslh LjPJo RpDvg YYtC rTpcz EDgo SIwmX oIWqB mzm sXtkB yayQB vXSTR ENhiS dQa-Du SVBll bpBbX GpQCA tuAKv xTell wdAqb ZqGqs LVAIE TnrRA uECag DcwSV XnBOJ cELRj SUAFz XzYk zkmjG aSyef pFen hoNVj TQOOL Haltu NafGB KpEhF jyjDy kZHqU FZKIw QddLR SKDYB UmcQM giepU cTjQC aRMla MMxXy fFMcX PbMFf hJRbU MRTyf iFJTR koyYF TkdYt DZNRX MALjb VUFMN\" data-testid=\"prism-Tag\" href=\"http:\/\/abcnews.go.com\/alerts\/Apple\" data-pos=\"1\"><span class=\"QXDKT rGjeC tuAKv iMbiE\">Apple<\/span><\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"Article__Footer  Article__Footer--news\">\n<div class=\"Article__Footer--items flex flex-wrap flex-no-wrap items-center justify-between\">\n<section class=\"Share flex flex-no-wrap\"><\/section>\n<\/div>\n<div class=\"StoryDivider StoryDivider--logo\">\n<hr\/>\n<p><img decoding=\"async\" alt=\"ABC News\" class=\"Image Logo Logo__xxxl\" data-mptype=\"image\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\"\/><\/p>\n<hr\/>\n<\/div>\n<\/div>\n<div class=\"taboola bmjsw lZur\" data-testid=\"prism-taboola\" style=\"min-height:800px\">\n<div id=\"taboola-below-article-thumbnails\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/abcnews.go.com\/Business\/wireStory\/warren-buffett-surprises-slashing-berkshire-hathaways-longtime-apple-112536827\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"featured_media":2774,"template":"","meta":{"_acf_changed":false},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Warren Buffett surprises by slashing Berkshire Hathaway&#039;s longtime Apple stake in second quarter - Trulinco - Multi Language Voice and Text Translation Application<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Warren Buffett surprises by slashing Berkshire Hathaway&#039;s longtime Apple stake in second quarter - Trulinco - Multi Language Voice and Text Translation Application\" \/>\n<meta property=\"og:description\" content=\"Warren Buffett surprises by slashing Berkshire Hathaway&#8217;s longtime Apple stake in second quarter Warren Buffett&#8217;s move could prove unsettling for the broader stock market. ByJOSH FUNK AP business writer August 3, 2024, 9:41 AM 1:16 An Apple logo hangs at a Palo Alto, Calif., Apple store on Friday, Feb. 2, 2024. (AP Photo\/Noah Berger) The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/\" \/>\n<meta property=\"og:site_name\" content=\"Trulinco - Multi Language Voice and Text Translation Application\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i.abcnewsfe.com\/a\/0af9d59f-4ab5-4e2c-844a-cdf695f681c4\/wirestory_7af22b7ad654ba012d8e8803ed694aea_16x9.jpg?w=992\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/\",\"url\":\"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/\",\"name\":\"Warren Buffett surprises by slashing Berkshire Hathaway's longtime Apple stake in second quarter - Trulinco - Multi Language Voice and Text Translation Application\",\"isPartOf\":{\"@id\":\"https:\/\/www.trulinco.com\/#website\"},\"datePublished\":\"2024-08-04T17:21:16+00:00\",\"dateModified\":\"2024-08-04T17:21:16+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.trulinco.com\/#website\",\"url\":\"https:\/\/www.trulinco.com\/\",\"name\":\"Trulinco - Multi Language Voice and Text Translation Application\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.trulinco.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.trulinco.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.trulinco.com\/#organization\",\"name\":\"Trulinco - Multi Language Voice and Text Translation Application\",\"url\":\"https:\/\/www.trulinco.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.trulinco.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.trulinco.com\/wp-content\/uploads\/2022\/09\/logo1.png\",\"contentUrl\":\"https:\/\/www.trulinco.com\/wp-content\/uploads\/2022\/09\/logo1.png\",\"width\":1000,\"height\":263,\"caption\":\"Trulinco - Multi Language Voice and Text Translation Application\"},\"image\":{\"@id\":\"https:\/\/www.trulinco.com\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Warren Buffett surprises by slashing Berkshire Hathaway's longtime Apple stake in second quarter - Trulinco - Multi Language Voice and Text Translation Application","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/","og_locale":"en_US","og_type":"article","og_title":"Warren Buffett surprises by slashing Berkshire Hathaway's longtime Apple stake in second quarter - Trulinco - Multi Language Voice and Text Translation Application","og_description":"Warren Buffett surprises by slashing Berkshire Hathaway&#8217;s longtime Apple stake in second quarter Warren Buffett&#8217;s move could prove unsettling for the broader stock market. ByJOSH FUNK AP business writer August 3, 2024, 9:41 AM 1:16 An Apple logo hangs at a Palo Alto, Calif., Apple store on Friday, Feb. 2, 2024. (AP Photo\/Noah Berger) The [&hellip;]","og_url":"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/","og_site_name":"Trulinco - Multi Language Voice and Text Translation Application","og_image":[{"url":"https:\/\/i.abcnewsfe.com\/a\/0af9d59f-4ab5-4e2c-844a-cdf695f681c4\/wirestory_7af22b7ad654ba012d8e8803ed694aea_16x9.jpg?w=992"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/","url":"https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/","name":"Warren Buffett surprises by slashing Berkshire Hathaway's longtime Apple stake in second quarter - Trulinco - Multi Language Voice and Text Translation Application","isPartOf":{"@id":"https:\/\/www.trulinco.com\/#website"},"datePublished":"2024-08-04T17:21:16+00:00","dateModified":"2024-08-04T17:21:16+00:00","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.trulinco.com\/blog\/news-new\/warren-buffett-surprises-by-slashing-berkshire-hathaways-longtime-apple-stake-in-second-quarter\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.trulinco.com\/#website","url":"https:\/\/www.trulinco.com\/","name":"Trulinco - Multi Language Voice and Text Translation Application","description":"","publisher":{"@id":"https:\/\/www.trulinco.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.trulinco.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.trulinco.com\/#organization","name":"Trulinco - Multi Language Voice and Text Translation Application","url":"https:\/\/www.trulinco.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.trulinco.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.trulinco.com\/wp-content\/uploads\/2022\/09\/logo1.png","contentUrl":"https:\/\/www.trulinco.com\/wp-content\/uploads\/2022\/09\/logo1.png","width":1000,"height":263,"caption":"Trulinco - Multi Language Voice and Text Translation Application"},"image":{"@id":"https:\/\/www.trulinco.com\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/www.trulinco.com\/wp-json\/wp\/v2\/news-new\/2773"}],"collection":[{"href":"https:\/\/www.trulinco.com\/wp-json\/wp\/v2\/news-new"}],"about":[{"href":"https:\/\/www.trulinco.com\/wp-json\/wp\/v2\/types\/news-new"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.trulinco.com\/wp-json\/wp\/v2\/media\/2774"}],"wp:attachment":[{"href":"https:\/\/www.trulinco.com\/wp-json\/wp\/v2\/media?parent=2773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}