Warren Buffett Remains Bullish on Apple Despite Selling Shares for Tax Reasons

At Berkshire Hathaway’s general meeting in Omaha, CEO Warren Buffett spoke confidently to shareholders about the company’s recent sale of Apple shares. Despite reducing its holdings by 13%, Buffett remains steadfast in his belief that Apple is a strong investment and expects it to continue as such.

Buffett’s decision to sell was due to tax reasons, as he anticipates rising corporate taxes due to the increasing US budget deficit. However, he emphasized the importance of contributing back to the country that has given so much and highlighted that Berkshire Hathaway paid $5 billion in federal taxes last year.

In addition to Apple, Buffett also mentioned his other favorite investments, including financial companies like American Express and beverage giant Coca Cola. He assured shareholders that these companies will remain in Berkshire’s portfolio for the foreseeable future.

During the meeting, Buffett also discussed Greg Abel’s succession as CEO and his continued focus on long-term investments in strong companies. This legacy-building strategy is a key factor in Berkshire Hathaway’s continued success post-leadership change. Overall, Berkshire Hathaway’s investment portfolio continues to deliver huge profits, solidifying its position as one of the most successful companies in the world.