Buffett's holding company Berkshire Hathaway reduced its stake in Apple to about $176 billion
Investors are now pouring over the filings to get insight into the Oracle $ORCL of Omaha’s views on the state of the market.
Berkshire Hathaway now has a 5.9% stake in the tech giant worth about $176 billion, according to the Wall Street Journal. That is still over half of the company’s more than $300 billion stock portfolio.
Still, the latest move, along with the holding company’s slashing of its stake in computer-maker HP $HPQ by 78%, could signal tough times ahead for tech companies selling hardware. By contrast, Buffett’s moves show growing interest in the energy sector.
Apple stock has fallen 5% since the start of 2024, to less than $183 per share. In January, it lost its spot as the world’s most valuable company to Microsoft $MSFT, which has a market cap of $3 trillion. Apple’s market cap currently stands at $2.8 trillion.
A few brokerages have also downgraded Apple stock to a “sell” rating over concerns about iPhone demand, especially in China.
The company recently reported in its latest quarterly earnings that its net sales in China fell 13% year-over-year in the three months ended Dec. 30.
Its stake in the satellite radio company SiriusXM increased to about $220 million, MarketWatch reported.
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