Berkshire Hathaway, the conglomerate controlled by Warren Buffet, increased its investments in Apple (AAPL), Paramount Global, and Louisiana-Pacific Corp while trimming a number of other positions across its portfolio. Berkshire reduced its financial holdings by selling shares in US Bancorp, Bank of New York Mellon, and Ally Financial. The remainder of the company's portfolio remained largely unchanged.
Berkshire Hathaway also decreased its holdings in chip-maker Taiwan Semiconductor Manufacturing Co (TSMC) by 86%. This comes roughly three months after Berkshire unveiled it bought more than $4.1 billion worth of TSMC stock, which sent shares of the world's largest contract chipmaker soaring.
Why it matters
Berkshire Hathaway considers Apple its top choice in the tech industry. Despite manufacturing difficulties and a decline in smartphone sales, Apple has consistently reported record quarterly revenue from 2019 to Q1 2022. Its potential for growth in subscription services, which saw a 150 million user increase to 935 million users in the past year, and its large installed base of 2 billion devices have also been emphasized by the company.