Warren Buffett Announces He Sold 100 Million Apple Shares

Berkshire Hathaway, currently one of Apple’s largest shareholders, recently published its financial situation report for the first quarter of the year. According to the report, he is one of the 10 richest people in the world. Warren BuffettThe company, of which he is the founder and boss, sold Apple shares worth billions of dollars. The fact that Apple shares have been on a downward trend in recent months and that Buffett has partially given up on Apple, which he praised, was considered a negative development.

We can explain more clearly why the issue is important as follows: Apple’s current market value is around 2.8 trillion dollars. Even after billions of dollars of sales, Berkshire Hathaway still has 790 million Apple shares, the total value of which is $144 billion around. According to the report, the amount of Apple shares sold by Berkshire is around 100 million units, with a total value of approximately 18 billion dollars. We can explain how big this value is as follows: The current market value of Turkish Airlines, one of Turkey’s largest companies, is around 13 billion dollars.

Warren Buffett also explained why they sold Apple shares

*Apple CEO Tim Cook and Berkshire Hathaway CEO Warren Buffett

First of all, it is necessary to give this information that Warren Buffett is actually a person who is hesitant to invest in technology companies. But Apple has strong pricing and loyal consumer base He does not hesitate to invest because he sees it as a “consumption company” with a large consumer base, and he has repeatedly praised both Apple and CEO Tim Cook. So why did Buffett withdraw his billions of dollars of investment from a company he praised so much?

Warren Buffett cited taxes as the reason for selling Apple shares during his question-and-answer event with shareholders regarding the report. To its investors “I don’t think the sale in Apple shares will have any impact on you.” Buffet said, with sales and future They are trying to avoid a larger tax burden told. According to CNBC, Tim Cook was aware of Berkshire’s share sale and stated that they were pleased that he was one of the company’s investors even after the sale.