Berkshire Hathaway Reduces Stake In Apple, BofA As Cash Pile Hits $325.2 Bln

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(RTTNews) - Berkshire Hathaway (BRK-B) reported a record cash pile of $325.2 billion in the third quarter as the company sold its equity stakes in prominent companies like Apple (AAPL) and Bank of America (BAC).

The Warren Buffet-owned company held 907.6 million, or 5.7 percent, of Apple's shares outstanding at the end of last year, valued at approximately $174.3 billion.

Currently, Berkshire's stake in the tech giant is valued at $69.9 billion, as per the company's latest quarterly report.

"I don't think Warren Buffett's ever really been super comfortable with technology," said Jim Shanahan, an analyst at Edward Jones, said to Financial Post.

"The share sales began surely after the death of Charlie Munger," Shanahan said. "It just may be the case that Munger was always a lot more comfortable with Apple than Warren Buffett."

Munger is Buffett's longtime business partner, who died in 2023.

Also, the Omaha-based company has sold $9 billion worth shares of Bank of America.