Warren Buffett’s Berkshire Hathaway sold a significant amount of Apple shares last quarter, reducing their position by 41,787,236 shares, possibly due to concerns about stock market valuations. Apple has been a staple in Berkshire’s portfolio for almost a decade, with Buffett initially investing $1 billion in 2016. Berkshire is holding more cash than ever, hinting at Buffett’s unease with market valuations and the lack of attractive investment opportunities.

Buffett’s recent trend of selling down his Apple stake is raising questions among investors. Berkshire’s largest holding, Apple, is being trimmed as market valuations soar, with the S&P 500 trading above 30 times earnings. This cautious approach reflects Buffett’s belief that cash is a poor long-term investment. Apple’s high valuation, trading at over 10 times sales and a P/E ratio of nearly 40, is seen as a concern as the company’s growth has slowed compared to previous years.

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Read more at Nasdaq: Warren Buffett Is Rapidly Selling Apple Stock. Here Are 2 Reasons Why.