Berkshire sold around $20 billion worth of Apple Shares recently.
Amid telephone line failures at Berkshire Hathaway, CEO Warren Buffett was compelled to manage work calls using his iPhone, an adaptation he humorously noted was fortunate since the company hadn’t fully divested its shares in Apple. Despite recently selling approximately $20 billion worth of Apple stock—about 13% of its stake—the tech giant remains Berkshire’s largest investment.
Buffett, who upgraded to an iPhone only four years ago after years of using a simple flip phone, remarked on his limited proficiency with the device, “I don’t know how to do much with it, but I do know how to answer calls,” he told The Omaha World-Herald.
This technological shift came right after Berkshire Hathaway’s annual shareholder meeting, which disclosed the sale of 115 million Apple shares. Despite the reduction, Berkshire still holds a significant 6% of Apple, equating to about 905 million shares valued at approximately $167 billion.
At the shareholder meeting, Buffett suggested the sale was influenced by tax considerations and expressed continued confidence in Apple’s leadership under CEO Tim Cook, who was present. Buffett assured stakeholders that, barring unforeseen circumstances, Berkshire would maintain its investments in key holdings like Apple, American Express, and Coca-Cola under the future leadership of Greg Abel, the designated successor CEO.
The incident underscores not only the interconnectedness of modern business operations with technology but also highlights Berkshire’s strategic financial maneuvers within its expansive portfolio.
