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 among the ten richest people in the world. Warren BuffettThe company, of which he is the founder and boss, sold billions of dollars worth of Apple shares. 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 seen as a negative development.

We can explain more clearly why this issue is important as follows: Apple’s current market value is about $2.8 trillion. Even after billions of dollars in sales, Berkshire Hathaway still owns 790 million Apple shares, the total value of which $144 billion all around. According to the report, the number of Apple shares sold by Berkshire is approximately 100 million units, with a total value of approximately $18 billion.

Warren Buffett also explained why they sold Apple stock

*Apple CEO Tim Cook and Warren Buffett, CEO of Berkshire Hathaway

First of all, it is necessary to give this information that Warren Buffett is actually someone who is hesitant to invest in technology companies. But Apple has strong prices and loyal consumer base He doesn’t hesitate to invest because he sees it as a “consumer 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 in investments from a company he so praised?

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