Buffett Praises Apple After Trimming It, Drops Paramount Stake

Apple will remain Berkshire’s top holding, Warren Buffett says
Conglomerate reported earnings, held annual meeting at weekend

WATCH: Buffett revealed he’d cut his stake in Apple but said it will remain Berkshire’s largest investment. Sally Bakewell reports.Source: Bloomberg

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By Amanda Albright and Isis Almeida

May 5, 2024 at 11:13 AM EDT

This article is for subscribers only.

At Berkshire Hathaway Inc.’s annual meeting in Omaha on Saturday, Warren Buffett heaped praise on Apple Inc. — after revealing he’d cut his stake in it.

Berkshire reported a $135.4 billion holding in the iPhone maker at the end of the first quarter, down from $174.3 billion at the year end. The move quickly became one of the biggest topics as the meeting unfolded, even though Berkshire had sold some shares in Apple during the quarter before.