Warren Buffett’s investment firm, Berkshire Hathaway, has filed its latest quarterly report with the Securities and Exchange Commission, revealing a significant reduction in its Apple stake and a complete exit from its position in Snowflake. The move suggests that Buffett may be cooling on the hype surrounding artificial intelligence.
Berkshire Hathaway is known for its commitment to “value investing,” focusing on undervalued stocks. However, the firm has recently loaded up on tech stocks, including Apple, Amazon, and Verisign. Its stake in Apple now represents nearly 50% of its portfolio.
The firm’s latest filing shows a massive reduction in its Snowflake position, which it had previously valued at around $1 billion. This move comes as Buffett has been reiterating his stance on Treasury bills, calling them the “safest investment there is.”
Berkshire Hathaway continues to invest in other industries, including energy, with a growing stake in Occidental. The firm’s holdings have increased significantly, reaching nearly $235 billion, an 81% increase from the end of 2023.
The reduction in Apple and Snowflake stakes, along with Berkshire Hathaway’s increased focus on cash and Treasury bills, may suggest that Buffett is becoming more cautious about the stock market’s performance.
Source: https://fortune.com/2024/08/15/warren-buffett-berkshire-hathaway-snowflake-apple-tech/