Berkshire flogs off Apple and Oracle shares
 

Buys a nice red hat instead

Warren Buffett’s Berkshire Hathaway has trimmed its stake in iPhone maker Apple in a sign that the shine has come off the fruity cargo cult.

Apparently, he spent the cash on a nice Red Hat which is probably about what the share is worth these days. Buffett also shed a $2.13 billion stake in database software company Oracle after having first disclosed it in November.

Berkshire owned some stocks for decades so it is rare to walk away from any investment so fast.

The changes were disclosed in a Thursday regulatory filing detailing Berkshire’s US-listed stock portfolio in December which shrank $38 billion in the quarter to $183.1 billion amid a broad selloff in stocks.

Berkshire said in the filing that its Apple stake shrank to 249.6 million shares in the quarter from 252.5 million, reducing its reported stake to below $40 billion as Apple’s share price slid 30 percent.

https://fudzilla.com/news/48151-berk...-oracle-shares