Apple has been Berkshire's largest stock position for several years, but in the third quarter, Berkshire sold roughly 22 per cent of its stake in Apple, from $174.3 billion to $135.4 billion. This decision to trim its holdings came after an 11 per cent drop in Apple’s share price during the same period and signs that the company’s China business is going tits up.

The Tame Apple Press, with little substantiation, claims that these shares were sold at a 'big profit' but concedes that the exact price Berkshire received for their shares remains unknown. However, based on Apple's share price at the end of the quarter, this could potentially amount to nearly $20 billion in proceeds for Berk-shire. Yet, the mystery of when Buffet acquired these shares remains, leaving open the possibility that he may have sold the ones he purchased when Apple’s share price was significantly higher.

To be clear, Buffett has reiterated that Apple continues to be one of his preferred businesses. He indicated at the annual meeting that the sale was primarily due to tax considerations. He may be anticipating higher tax rates in the future, and therefore, selling some of his holdings now could secure today's rates.

Buffett specifically named Apple as a stock that will probably remain a top holding of Berkshire, even after he's no longer running the investment portfolio. He called Apple an "even better business" than two of his longtime favourites, American Express and Coca Cola.