Buffett's Berkshire cuts Apple stake by half, boosts cash stockpile to $277B as it gets 'defensive’

Warren Buffett's Berkshire Hathaway is selling about half of its stake in Apple and increasing its cash stockpile to almost $277 billion, according to figures released Saturday.

Berkshire's quarterly report suggests that the 93-year-old Buffett, one of the world's most revered investors, is growing wary that stock market valuations have gotten too high, or that the broader U.S. economy may be in a precarious position.

A stock market selloff on Friday followed a weaker-than-expected jobs report on Thursday...