Apple’s shares have seen a drop in their pre-market trading today (5 August) after Warren Buffett’s Berkshire Hathaway disclosed the firm had discarded 390 million shares worth around $50bn.
Shares in the American tech giant were down 8.2% in pre-market trading at the time of reporting, according to data from MarketWatch. US equities suffer worst day in two years as Nasdaq loses $1trn Despite the significant selloff in shares, Apple remains Berkshire Hathaway's largest investment, with Buffett's firm still holding about 400 million shares worth $84.2bn. Around 72% of Berkshire Hathaway's aggregate fair value was concentrated in five companies including Apple, Bank of America ($41.1bn), American Express ($35.1bn), the Coca-Cola Company ($25.5bn) and Chevron ($18.6bn). ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
