Buffett halves his Apple stake in $116b stock dump

New York | Berkshire Hathaway’s cash pile reached a record $US276.9 billion ($425 billion) in the second quarter as billionaire Warren Buffett slashed its Apple stake by almost 50 per cent and continued to hold off on acquisitions.

Berkshire’s results, released on Saturday, suggest Mr Buffett, 93, one of the world’s most revered investors, is growing wary about the broader US economy, or sharemarket valuations that are too high.

Bloomberg, Reuters and AP