Buffett Praised Apple After Trimming It, Drops Paramount Stake

At Berkshire Hathaway's annual meeting, Warren Buffett praised Apple, despite having recently reduced his stake in the company. Berkshire's share in Apple decreased from $174.3 billion to $135.4 billion, yet Buffett affirmed Apple remains a top investment due to its superior quality compared to other holdings like American Express and Coca-Cola. Additionally, Berkshire has increased its cash reserves to a record $189 billion, influenced by a lack of appealing acquisition opportunities and a cautious stance on the current volatile market conditions.