: Warren Buffett's Berkshire Hathaway has significantly reduced its Apple holdings, cutting its stake by approximately 50% to $84.2 billion, as revealed in a recent SEC filing.

Despite Apple remaining the largest stock in Berkshire Hathaway's portfolio, Buffett had already trimmed the stake by 13% earlier this year, suggesting a willingness to sell some shares for tax purposes.

The Financial Times reports that Berkshire Hathaway made substantial profits from this sale. Buffett, who had previously been cautious about tech investments, began purchasing Apple stock in 2016. This move might indicate a shift in Buffett's confidence in Apple, or it could simply reflect a broader strategy, as he has also sold $3.8 billion worth of Bank of America shares.

This filing follows Apple's third-quarter earnings announcement on Thursday, which highlighted a decline in global iPhone sales for the second consecutive quarter, partly due to increased competition from Chinese companies like Huawei. However, iPad sales showed positive growth.

Apple CEO Tim Cook mentioned that the company is reallocating resources to prepare for the launch of Apple Intelligence, a suite of AI features set to debut in the fall.