Warren Buffett Cuts His Stake in Apple (Again)
Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) cash pile reached a record level in the third quarter. The company, run by investor Warren Buffett, keeps trimming its equity portfolio and is now sitting on close to $325 billion in cash on its balance sheet. While this does not necessarily mean Buffett is making a directional call on the stock market, the Oracle of Omaha is being more cautious with his investments today as the market shoots up to all-time highs. Be greedy when others are fearful, as he might say.
His largest source of raising cash has been Apple (NASDAQ: AAPL), which Buffett has consistently trimmed this year. He sold yet again in the third quarter, reducing the stake for Berkshire Hathaway to an estimated 300 million shares worth around $69.9 billion. Earlier in the year, he sold close to 400 million shares, which reduced the company's stake by around half.
Even as Buffett sold down Berkshire's Apple position, the stock kept climbing and has been up by around 25% in the last 12 months. Does that give other shareholders the opportunity to trim their positions in the technology giant at the right time? Let's take a closer look and investigate whether now is a good time to sell Apple stock from your portfolio.
Source Fool.com
