Tesla CEO Elon Musk has commented on Warren Buffett’s decision by Berkshire Hathaway to sell nearly half of its Apple stock.
According to "Benzinga", Berkshire announced its second-quarter financial results on Saturday (3rd). Operating income increased by 15.5% year-on-year to US$11.6 billion, and net profit fell by 15.5% year-on-year to US$30.35 billion. During this period, the company continued to reduce its holdings in Apple, selling approximately 390 million shares. As of June 30, Berkshire still held about 400 million Apple shares, worth $84.2 billion.
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In response, Musk replied :
"He (Buffett) is obviously anticipating some kind of correction or just hasn't found a better investment than Treasuries."
Musk also criticized the U.S. Federal Reserve for not cutting interest rates, believing that current interest rates are too high. "The Fed needs to lower interest rates, and they'd be foolish not to do so," he said.
Global financial markets experienced violent fluctuations on Monday (5th). According to the "Nihon Keizai Shimbun" report , Japan's Topix stock price index (TOPIX) fell 8% earlier, and the Osaka Exchange triggered a circuit breaker mechanism to suspend TOPIX futures trading. The Korea Composite Stock Price Index (KOSPI) fell more than 8% in a single day, and the circuit breaker mechanism was triggered during the session. The Taiwan Weighted Index fell by 1807.21 points, or 8.35%, setting a record for the largest drop in history.
The cryptocurrency market has also experienced significant declines in the past 24 hours, with Bitcoin (BTC) falling more than 15%, once falling below the $50,000 mark. Ethereum (ETH) fell more than 22%. At the time of writing, the trading price of Bitcoin was approximately US$51,000, and the price of Ethereum was approximately US$2,250.
