Apple Inc.’s (AAPL) stock is down 0.25% after it was revealed that Warren Buffet’s Berkshire Hathaway (BRK) lowered its stake in the iPhone-maker at the end of 2018. Apple was Berkshire’s largest investment.
According to a regulatory filing, Berkshire’s stake in Apple has been reduced by 1% and now stands at 249.6 million shares for the last quarter of 2018. This compares to 252.5 million shares in the earlier quarter. This reportedly brings the value of Berkshire’s stake to below $40 billion.
The trimmed stake has added to the concerns over Apple as the tech giant struggles with falling iPhone sales. Despite becoming the first trillion-dollar company last year, Apple has battled weakness in iPhone sales as well as other issues such as the impacts from the trade war.
During its most recent quarter, Apple’s iPhone sales fell 15% and missed consensus estimates. The smartphone market is nearing complete saturation and Apple is feeling the impact of this trend, as newer and cheaper devices continue to flood the space.
Berkshire Hathaway is said to have cut its stake in Oracle (ORCL) as well, sending the tech firm’s shares downward. At the same time, Berkshire has reportedly increased its investments in a number of US banks including JPMorgan (JPM), Bank of America Corporation (BAC), PNC Financial (PNC) and US Bancorp (USB). The company also holds a stake in Red Hat, which was acquired by IBM a few months ago.
We’re on Flipboard! Follow us to receive the latest stock market, earnings and financial news at your fingertips.
Most Popular
Costco (COST) reports strong growth in Q1 FY26 earnings; revenue up 8%
Costco Wholesale Corporation (NASDAQ: COST) has reported an increase in net income for the first quarter of fiscal 2026. Revenues grew 8.3% year-over-year. The Issaquah, Washington-headquartered warehouse giant’s total revenues
AVGO Earnings: Broadcom reports higher Q4 FY25 revenue, profit; results beat
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. The numbers also surpassed analysts' expectations. Adjusted
Lamb Weston (LW) is set to report Q2 2026 earnings next week, here’s what to look for
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) rose over 1% on Thursday. The stock has gained 4% over the past three months. The French fry giant is slated to
