Warren Buffett Sold Nearly $2 Billion Worth of Apple Last Quarter. Here's Why.
CEO Warren Buffett called (NASDAQ: AAPL) "a better business than any we own" at Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) annual shareholder meeting last May. The stock is, by far, the largest holding in Berkshire's portfolio, a sign of Buffett's conviction in the company. Yet the Oracle of Omaha decided to sell nearly $2 billion worth of Apple shares at the end of last year.
Berkshire Hathaway held 10 million fewer Apple shares at the year's end than in September, according to the company's 13-F filing with the Securities and Exchange Commission. But investors shouldn't start worrying Buffett has soured on the tech titan. There's a clear explanation as to why Buffett sold some of his Apple stock.
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Source Fool.com