Reported 4 months ago
Berkshire Hathaway, led by Warren Buffett, sold over $21 billion worth of Apple stock in the first quarter, representing a significant portion of their portfolio, as they aim to take advantage of the current low corporate tax rate on profits. Buffett cited the historically low tax rate of 21% as a reason for realizing gains now, rather than risk facing potentially higher taxes in the future under the Biden administration's proposed 28% corporate tax rate. Additionally, Apple's slowing growth and premium valuation compared to other tech companies have contributed to Berkshire's decision to divest its holdings.
Source: YAHOO