Berkshire slashes Apple stake, hits record cash reserve

Berkshire Hathaway slashed its Apple stake by nearly 50% during a significant second-quarter sell-off, boosting Warren Buffett's cash reserves to a record $276.9 billion. The conglomerate sold $75.5 billion in stocks and saw operating earnings rise to $11.6 billion. As the S&P 500 hit record highs, Buffett's moves reflect strategic shifts amidst economic uncertainties and a tightening market, raising speculation about further Apple divestments.

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By Amanda Cantrell and Katherine Chiglinsky

Berkshire Hathaway Inc. slashed its stake in Apple Inc. by almost 50% as part of a massive second-quarter selling spree that sent billionaire Warren Buffett's cash pile to a record $276.9 billion. 

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