Warren Buffett's Berkshire Hathaway (NYSE:) has reduced its stake in Apple (NASDAQ:), its quarterly earnings report showed today.
Berkshire's investment in Apple is now worth $135.4 billion, reflecting ownership of approximately 790 million shares. This adjustment indicates a 13% decrease in the company's stake in the technology giant.
However, Apple remains the largest holding in Berkshire's portfolio.
“It doesn't bother me at all to write this check — and I really hope, with everything America has done for all of you, that it doesn't bother you that we're doing it — and if I were to do it at 21 this year and we'd do it,” Buffett said during Berkshire Hathaway's annual meeting. “A little bit higher later, I don't think you'll really be bothered by the fact that we sold a little bit of Apple this year.”
Apple shares rose last week after the tech giant announced a record $110 billion stock buyback authorization despite falling iPhone sales.
As of the end of the first quarter, Berkshire Hathaway remains Apple's largest shareholder, excluding exchange-traded fund providers.
Earlier in the day, the Warren Buffett-controlled company reported operating income of $11.22 billion, representing a 32% increase from $8.48 billion in the first quarter of 2023.