Warren Buffett's Berkshire Hits $1 Trillion: But Why Is It Selling Stakes in Apple & BofA?
Warren Buffett's Berkshire Hits $1 Trillion: But Why Is It Selling Stakes in Apple & BofA? | Firstpost Tech & Trade
Warren Buffett, the legendary investor, recently marked his 94th birthday with Berkshire Hathaway hitting a $1 trillion market cap, joining a select group of tech giants. However, Buffett's recent moves have raised eyebrows. The firm has sold significant stakes in Apple and Bank of America, amassing a record $277 billion in cash. Critics argue that Berkshire's performance is lagging compared to the S&P 500, and Buffett's reliance on traditional industries contrasts with today’s tech-driven market. Speculation swirls around whether these actions are a strategy to mitigate potential tax increases under a possible Democratic presidency or prepare for future economic downturn. Let's try to understand.
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