Berkshire Hathaway Inc. slashed its stake in Apple Inc. by almost 50% as part of a massive second-quarter selling spree that sent billionaire Warren Buffett ’ s cash pile to a record $276.9 billion.

Since Berkshire first disclosed its Apple stake in 2016, Buffett has ridden the gains to accumulate a massive paper profit. Berkshire had spent just $31.1 billion for the 908 million of Apple shares it held through the end of 2021. Now his roughly 400 million shares of Apple were valued at $84.2 billion at the end of June.

Buffett ’ s Apple selloff fed Into terror over market.

Apple shares tumbled 7.2% in premarket trading Monday.