Why did Warren Buffett sell Apple stock?

In a federal statement on Tuesday, Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) reported that in the fourth quarter of 2020 the company sold 9.81 million shares of Apple Inc. (NASDAQ: AAPL) for nearly $ 1.1 billion.

Berkshire Hathaway began acquiring Apple stock in 2016 with a purchase of 9.81 million shares, and those shares had doubled in value by September last year. It’s probably no coincidence that the number of shares Buffett sold equals the number his company first bought. Berkshire Hathaway also sold around $ 800 million in Apple stock in the fourth quarter of 2019.

As of September last year, Berkshire Hathaway owned Apple stock valued at $ 111.7 billion, up …

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