3 Key Takeaways From Buffett's Sale of Apple Stock
One of the most surprising bits of news from this year's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) shareholder's meeting was the reduction in its position in Apple (NASDAQ: AAPL) stock. The revelation that Berkshire's Apple position is now worth $135.4 billion implies that Warren Buffett's company holds around 790 million, marking a reduction of about 13%.
Dumping more than 100 million shares in a short time frame naturally leads to questions as to why. Buffett implied the sale was for tax reasons, possibly in anticipation of higher tax rates in future years.
Nonetheless, Berkshire's history with Apple offers valuable investment lessons, and investors should know three things about Berkshire's sale of Apple stock.
Source Fool.com
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