Berkshire halves Apple stake, boosts cash to $277 billion as it gets 'defensive’. Warren Buffett appears to have soured on stocks, letting cash at Berkshire Hathaway soar to nearly $277 billion and selling about half its stake in Apple, even as the conglomerate posted a record quarterly operating profit.
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Berkshire's results released on Saturday suggest the 93-year-old Buffett, one of the world's most revered investors, is growing wary about the broader U.S. economy, or stock market valuations that have gotten too high. 

 The decision to reduce its Apple stake is surprising, as Buffett has been known for his long-term investment approach. Berkshire Hathaway's holdings in Apple were valued at $84.2 billion at the end of the second quarter, down from 790 million shares to 400 million shares  . Buffett has previously mentioned that selling "a little Apple" this year could benefit Berkshire shareholders if capital gains taxes are raised in the future