Warren Buffett's Berkshire Hathaway Inc slashed its stake in Taiwanese contract chipmaker TSMC , as well as in some banks in the fourth quarter, while bolstering its holdings in Apple Inc .
It is rare but not unprecedented for Berkshire to quickly undo a multi-billion dollar investment in a company's stock. In the first quarter of 2022, Berkshire sold nearly all of what had been an $8.3 billion stake in Verizon Communications Increvenue in the first quarter is likely to dip 5% as it weathers a global downturn in the chip industry because of softening consumer demand for electronics.
executives have said they do not expect market conditions to improve until the second half of the year., to 6.7 million shares, and shrunk its stake in BNY Mellon by roughly 60%, to 25.1 million shares. Both cuts totaled nearly $5.5 billion at current prices.
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