Amidst the escalating worldwide sell-off, tech shares plunged on Monday after Warren Buffett shocked the investment community over the weekend by cutting his substantial Apple position in half.
A little over 49% of the tech asset was unloaded by the Oracle of Omaha, as Berkshire Hathaway revealed in its quarterly report that its Apple position was valued at $84.2 billion at the end of the second quarter.
In Monday’s premarket trade, Apple’s stock fell by over 7%. Fears of an impending economic downturn are threatening to cause a significant drop in global stock markets.
Source (CNBC)
