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Berkshire Hathaway sold about half of its Apple stock in the second quarter and now has a mountain of cash.
Berkshire Hathaway (BRK.A -0.52%) (BRK.B -0.77%) sold about half of its massive Apple (AAPL -1.62%) investment in the second quarter of 2024, and this helped drive the company's cash stockpile up to an all-time high of $277 billion. In this video, longtime Fool.com contributors Matt Frankel and Dan Caplinger discuss why they're fans of the move, even though they like Apple as a business.
*Stock prices used were the morning prices of Aug. 21, 2024. The video was published on Aug. 22, 2024.
Dan Caplinger has positions in Apple and Berkshire Hathaway. Matt Frankel has positions in Berkshire Hathaway. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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