The Sage of Omaha has decided to trim his Apple holdings, as part of what appears to be a small move away from big tech.
Buffett first invested in Apple in only 2016, and since then chiefly increasing its investment, starting in 2017 when it nearly quadrupled its stake in the company. By 2022, his Berkshire Hathaway firm was already reported to have earned over $100 billion from holding Apple shares.
This leaves Buffett’s firm with 5.9% of all Apple shares, and the Financial Times says this position was worth $174 billion at the end of 2023. During 2022, Buffett revealed that Berkshire Hathaway had spent just over $31 billion in buying Apple shares.
Known also as the “Sage of Omaha,” Buffett has described the iPhone as an “extraordinary product.” He said it was so crucial to its users that “[if] they have to give up a second car or give up their iPhone, they’d give up their second car.”
This story originally appeared on Appleinsider
