Warren Buffett Just Sold Half of His Apple Stock. 3 Reasons Not to Panic.
The news that Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) sold half of its Apple (NASDAQ: AAPL) stock probably came as a shock to many investors. Although it often stood as the stock with the largest market cap in recent years, its growth played a significant role in the rise of Berkshire stock during that time.
Still, from another perspective, the sale is probably not as monumental as it seems. Three key points illustrate why investors should not panic because of this move.
Despite the size of the move, Berkshire Hathaway still owns approximately 400 million shares of Apple. At a value of roughly $84 billion, it made up about 29% of the Berkshire holdings at the end of the second quarter, far above Bank of America at 14%.
Source Fool.com
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