The big story with Berkshire Hathaway's second-quarter update was that Warren Buffett slashed his company's stake in (NASDAQ: AAPL). At the end of 2023, Berkshire owned more than 905 million shares of the iPhone maker worth over $174 billion. Today, it has 400 million shares of Apple worth roughly $90.7 billion.

Many investors could still be scratching their heads about why Buffett sold so much of Berkshire's position in Apple. There's one theory we can safely put to rest, though. Was Buffett's big sale of Apple a bet on Kamala Harris beating Donald Trump? Nope.

Vice President Kamala Harris delivers remarks at the 40th Annual Black History Month Virtual Celebration, hosted by Congressman Steny Hoyer of Maryland, Saturday, Feb. 27, 2021, in the South Court Auditorium of the Eisenhower Executive Office Building at the White House. (Official White House Photo by Lawrence Jackson).

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Source Fool.com