Apple experienced a significant decline in its stock value during Monday's market sell-off, with shares dropping by nearly 5%. This decline was attributed to the announcement made by Warren Buffett's Berkshire Hathaway on Saturday that it had sold almost half of its Apple stock. Berkshire Hathaway's second-quarter earnings report revealed that the company had reduced its Apple holdings from 790 million shares to 400 million shares.
Warren Buffett had previously expressed his positive outlook on Apple as an investment, citing the large number of individuals who heavily rely on their iPhones for various aspects of their daily lives. However, the recent decision to sell a substantial portion of Apple stock by Berkshire Hathaway seemed to have a notable impact on the market sentiment towards the tech giant.
As a result of this news, Apple's stock closed at its lowest level in nearly six weeks on Monday, reflecting the concerns and reactions of investors to Berkshire Hathaway's divestment. The market sell-off and the subsequent drop in Apple's share price underscore the influence that major investors like Berkshire Hathaway and Warren Buffett can have on the stock market, particularly in the tech sector.
