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Warren Buffett has been selling off his stake in Apple, reducing it by two-thirds over the past year to $69.9bn, as part of a broader selling spree by Berkshire Hathaway totaling $166bn in stock sales. Buffett has also sold off $36.1bn of other stocks, including Bank of America, and reinvested the proceeds into short-term Treasury bills, bringing Berkshire’s cash position to a record $325.2bn. Operating profits have declined by 6% due to losses from hurricanes and asbestos-related liabilities, with Buffett emphasizing the importance of operating results over reported net income.
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