Apple Stock Falls Amid Broad Selloff as Berkshire Hathaway Trims Stake Again

Shares of Apple (AAPL) took a deed aft Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) revealed complete nan play that it reduced its liking successful nan institution by astir 50%.

The conglomerate's astir caller Securities and Exchange Commission (SEC) filing showed an Apple liking worthy $84.2 billion arsenic of June 30—49% little than its liking a 4th earlier. The move comes aft Berkshire slashed its Apple holdings by 13% successful nan first quarter. 

Despite nan cuts, Apple remains Berkshire's largest holding, up of Bank of America (BAC), American Express (AXP), The Coca-Cola Company (KO), and Chevron (CVX).

Apple, whose banal fell astir 4% to $210.91 arsenic of 11:55 a.m. ET Monday, did not instantly respond to an Investopedia petition for comment. 

Apple's App Store Revenue Growth Slows, UBS Says

Another bearish motion for nan tech giant: UBS said its study indicated App Store gross maturation decelerated to 11% year-over-year successful July from 13% successful June.

“While we be aware extrapolating 1 period of data, we estimate App Store comprises ~25% of nan conception [revenue],” nan patient said successful a statement complete nan weekend. "Therefore, beneath conception level walk successful nan App Store increases nan reliance connected different categories to accelerate from June to enactment arsenic an offset."

The patient holds a "neutral" standing and $190 value target for Apple.