This Billionaire Just Sold Part of Apple

One of the richest men in the world just sold most of his stake at the technology company Apple, which already has had an impact on the company and its share price.

Warren Buffett, one of the richest American investors boasting a net worth of $135 billion, just announced his operation of selling around half of his 510 million shares of Apple stock, measuring up to $57.5 billion, a great portion of his net worth.

Buffett's company Berkshire Hathaway gradually reduced his stake at Apple, with 389 million shares being sold in the second quarter alone, and much more of his stake on the line in the next few months.

Buffett, both a short-term and long-term investor, argued that dividends and gradual capital appreciation do not outweigh the volatility and financial risk of holding Apple stock, as the company went through a volatile list of ups and downs over the past few weeks. Buffett is also making a gamble of the success of Apple's newest lineup of electronic devices, as well as the company's resilience against charges of reducing competition on the App Store.

There are also a variety of other reasons influencing his decision to sell Apple. He wants to reduce Berkshire Hathaway's reliance on Apple shares for its own gains, reduce the risk of growing taxes on holding stocks in Apple, and the company's slowing growth after years of pure bullish, strong growth.

His decision to sell half of his shares in Apple could mark the beginning of a market-wide sell-off of Apple, causing its share price to decrease significantly.