Warren Buffett, Berkshire Hathaway offload Apple stock – what are they buying now?

Berkshire Hathaway, the conglomerate led by Warren Buffett, reduced its holdings in Apple by approximately 1% during the final quarter of 2023, according to recent Securities and Exchange Commission (SEC) filings.

Following the sale, Berkshire Hathaway’s stake in Apple now represents 5.9% of the tech behemoth, valued at around $176 billion. This constitutes more than half of Berkshire Hathaway’s stock portfolio, which exceeds $300 billion in total value.

As per a report from Quartz, the decision to trim its Apple investment, coupled with the company’s significant reduction of its HP stake by 78%, is being interpreted by some market watchers as an indicator of challenging times ahead for technology firms focused on hardware.

In contrast, Buffett’s recent investment choices suggest a growing affinity for the energy sector. In the last quarter of 2023, the company raised its Chevron stake to over $18 billion and boosted its holdings in Occidental Petroleum to approximately $14.5 million.

Additionally, Berkshire Hathaway expanded its investment in SiriusXM, with its stake now valued at about $220 million, highlighting a strategic diversification of its investment portfolio towards energy and media assets.

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