Reported 4 days ago
Warren Buffett has sold nearly half of Berkshire Hathaway's stake in Apple, raising around $80 billion, due to stagnating revenue growth and high valuations. Consequently, he has made a significant investment in Occidental Petroleum, attracted by its lower price-to-earnings ratio and potential for growth amidst fluctuating oil prices. This move reflects Buffett's focus on valuation and the current risk-free rate, as he opts for stocks that promise higher earnings yields compared to Treasury bills.
Source: YAHOO