Buffett explains Berkshire's reduced stake in Apple at annual company meeting

Warren Buffett, the billionaire co-founder and CEO of Berkshire Hathaway, offered some insights Saturday at the company's annual meeting into the decision to reduce its stake in tech giant Apple, which was and remains its largest stock holding.

Berkshire's stake in Apple fell by 22% to $135.4 billion as of March 31 from $174.3 billion at the end of 2023, even as the iPhone maker's share price fell just 11%. The conglomerate appears to have sold about 115 million shares, or 13% of its holdings in the quarter.