Billionaire Warren Buffett Buys More Apple, Sells Shares of Wal-Mart

The Oracle of Omaha Boosts Stake in Apple Inc. (NASDAQ:AAPL)

– Shares Owned by Berkshire Hathaway (as of June 30): 15.23 Million

– Value of Berkshire Hathaway (as of June 30): $1.46 Billion

The multi-billion-dollar conglomerate run by Warren Buffett added 5.42 million shares of Apple Inc. (NASDAQ:AAPL) to its existing position in the company during the April-to-June period, having finished the second quarter with 15.23 million shares. The stake was worth $1.46 billion on June 30 and accounted for 1.1% of the holding company’s entire portfolio. Mr. Buffett and his team initiated a new position in the iPhone maker during the first quarter of 2016, a move that raised eyebrows because of Mr. Buffett’s well-known aversion to the technology space. Most Apple consumers and stock market participants are excited about the “iPhone 7” launch this September. Although the multitude of rumors and leaked pictures of what the soon-to-be released iPhone might look like seem to disappoint the majority, the new version of the iPhone will likely represent a major catalyst of Apple shares. Numerous consumers bought the iPhone 6 on a two-year contract back in September 2014, so this group of Apple customers will be eligible for an upgrade when the successors to the iPhone 6S and iPhone 6S plus models come out. Apple shares are 4% in the green year-to-date. Ken Fisher’s Fisher Asset Management owns 11.31 million shares of Apple Inc. (NASDAQ:AAPL) as of June 30.

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Berkshire Hathaway Trims Deere & Company (NYSE:DE) Stake

– Shares Owned by Berkshire Hathaway (as of June 30): 21.96 Million

– Value of Berkshire Hathaway (as of June 30): $1.78 Billion

Warren Buffett’s Berkshire Hathaway reduced its exposure to Deere & Company (NYSE:DE) by 1.32 million shares during the three months ended June 30. The position was valued at $1.78 billion at the end of the June quarter and made up 1.4% of the firm’s overall portfolio. The shares of the manufacturer of agricultural, construction, and forestry machinery are 2% in the green thus far in 2016. The company’s worldwide net sales and revenue for the first six months of 2016 decreased by 8% year-over-year to $13.40 billion. Just recently, analysts at UBS downgraded Deere & Company to ‘Neutral’ from ‘Buy’ and cut their price target on the stock to $80 from $94, saying that “another year of low corn prices will be a drag on equipment sales.” UBS analysts “no longer see material upside to corn prices this growing season,” so farmers’ income will continue to be under pressure. Tom Gayner’s Markel Gayner Asset Management was the owner of 1.09 million shares of Deere & Company (NYSE:DE) at the end of June.

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