Billionaire Warren Buffett has just sold $ 800 million in Apple stock

Warren Buffett’s Berkshire Hathaway investment group sold more than $ 800 million of Apple stock in the past quarter. Business Insider has given a few reasons for the sale of Apple stock of Warren Buffett, but one of them is quite confusing and contrary to the investment philosophy of Warren Buffett.

That’s because you want to withdraw money after Apple’s stock value has soared within the past year. However, Warren Buffett always invests in the long term, instead of buying and selling stocks just to make short-term profits.

The second reason is that Berkshire Hathaway needs cash to invest in Kroger and Biogen. A recent report shows that Berkshire Hathaway has signed a contract to buy a 2.4% stake in the supermarket chain Kroger worth US $ 549 million, and a 0.4% stake in the biogen drug company Biogen worth 192 million. USD.

Whatever the reason, it can be fairly certain that billionaire Warren Buffett sold $ 800 million in Apple stock not because he predicted stock prices would fall. Recently, Apple also forecasted revenue and sales will decline due to the impact of the Covid-19 virus disease.

However, despite selling a large amount of Apple stock, Berkshire Hathaway investment group still owns 5.4% of the shares, valued at 72 billion USD and is the largest shareholder. So selling $ 800 million in stocks is a relatively small amount.

In an interview in 2018, billionaire Warren Buffett once said that he wanted to own 100% Apple. Of course, due to capital, legal and other barriers, Berkshire Hathaway certainly won’t be able to fully own a company worth more than $ 1,000 billion as Apple. But it can be said that this billionaire is very interested in Apple.

Reference: 9to5mac