Investing
Berkshire Cuts Apple Stake by Almost Half in Selling Spree
- Cash pile climbs to record $276.9 billion in second quarter
- Overall company stock sales reach $75.5 billion on a net basis
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Berkshire Hathaway Inc. slashed its stake in Apple Inc. by almost 50% as part of a massive second-quarter selling spree that sent billionaire Warren Buffett’s cash pile to a record $276.9 billion.
In all, Berkshire sold $75.5 billion worth of stock on a net basis in the period, the Omaha, Nebraska-based conglomerate reported Saturday. Operating earnings rose to $11.6 billion, up from $10 billion for the same period a year ago.