Special topic: Buffett's 2024 shareholders' meeting hit
Asked why Berkshire cut its position in Apple, Mr Buffett said it was for tax reasons because the investment yielded a sizeable return, not because of his long-term judgment of the stock.
He also said it might have something to do with his personal view that US tax rates would be raised to finance the ballooning US fiscal deficit.
Buffett said: "paying taxes is not troublesome at all."PokerchipsI, I really hope that, given what America has done for all of you, we should not bother you in this way. Our tax rate is 21% this year, and the tax rate will be higher in the future. I don't think you will mind that we sold a little bit of apples this year. " .
Mr Buffett said it was "highly likely" that Apple would remain one of its Berkshire's largest positions in spite of a recent slowdown in sales.
Buffett said Berkshire will continue to own American Express, Apple and Coca-Cola. When he was no longer at the helm and Greg Abel, a non-insurance vice president, took over, he added that Apple's business model was "even better than American Express and Coca-Cola".
"that's why we have American Express, because it's a great company," Buffett said. " . "We own Coca-Cola because it is a great company. We own Apple, which is a better company. Unless something really extraordinary happens, we will continue to have Apple, American Express and Coca-Cola. "
