Taking advantage of the high price, billionaire Warren Buffett has sold off $ 5 billion in Apple stock

According to Business Insider calculations, billionaire Warren Buffett’s Berkshire Hathaway may have sold about $ 5 billion of Apple stock in the past quarter.

Based on SEC Securities Commission documents recently released on Monday, BI estimates that, as of September 30, Berkshire Hathaway is holding about 964.5 million Apple shares worth nearly $ 112 billion. .

But before that, on June 30 (end of Q2), Berkshire revealed that they are holding $ 91.5 billion in Apple stock. Based on the price of Apple shares at the time, as well as the 4-1 share split, BI estimates that Berkshire had owned about 1.003 billion Apple shares by the end of the second quarter.

That figure shows that billionaire investment fund Buffett sold about 39 million Apple shares in the last quarter, equivalent to 3.8% of the fund’s shares held by the iPhone maker.

Depending on when the Apple stock was sold, the Berkshire fund could have raked in between $ 3.5 billion and $ 5.2 billion.

But most importantly, the Berkshire fund invested about $ 35 billion in Apple between 2016 and 2018, meaning that Buffett’s investment has tripled in value in just a few years.

By far, Apple is Berkshire’s largest investment, accounting for 40% of the fund’s total portfolio of shares (as of July 2020). Apple’s stock price has risen nearly 60% this year.

Especially in the third quarter period is the time when Apple shares climbed to the highest level this year, followed by a decline and so far Apple shares have not been able to return to this peak. Using that moment to make a profit is perfectly reasonable, especially for Buffett.

On the other hand, so far the Berkshire Foundation is having trouble sustaining its growth during the Covid-19 period. Shares of Berkshire have fallen 1% this year while the S&P 500, one of the indicators of the health of the US stock market, has risen nearly 10%.

Refer to The Next Web