Apple(US:AAPL) Mei Ri Jing Ji Xin Wen·2025-11-04 13:40Core Viewpoint - Berkshire Hathaway, led by Warren Buffett, has significantly reduced its stake in Apple, indicating a potential shift in investment strategy and concerns over Apple's high valuation [1][5]. Group 1: Apple Stock Reduction - Berkshire Hathaway's cost basis for consumer goods stocks decreased by approximately $1.2 billion, primarily due to its holdings in Apple [1]. - Over the past year, Berkshire has reduced its Apple stock holdings by nearly 70%, resulting in a potential loss of $50 billion in unrealized gains [3]. - As of June 30, 2025, Berkshire held 280 million shares of Apple, valued at $57 billion, down from 906 million shares at the end of 2023 [3]. Group 2: Financial Performance - In Q3 2025, Berkshire reported total revenue of $94.972 billion, a year-over-year increase of 2.13%, and a net profit of $30.796 billion, up 17.31% [6]. - Operating profit for Q3 reached $13.485 billion, reflecting a 33.65% year-over-year growth, showcasing the company's robust earnings capability [6]. - Berkshire's cash reserves hit a record high of $381.67 billion, indicating a cautious approach to market investments [6]. Group 3: Leadership Transition - The recent financial report will be the last one released by Buffett before he retires at the end of the year, passing the CEO role to Greg Abel [7]. - The leadership transition has contributed to recent stock price pressures, with a rare downgrade from KBW [7][9]. - Buffett's assistant confirmed that Abel will take over writing the annual shareholder letter and will lead the annual meeting in Omaha starting next year [9].