Subject: Re: AAPL reduced
Agree.

Apple is nowhere near the nosebleed valuation where Buffett got the itch to trim KO a couple decades ago but did not and later admitted that was a mistake….buts it’s rich multiple.

It was a nice try suggesting the 21% tax rate drove this. No one buys this. That’s fine.. it’s grown into too big a chunk of the portfolio, it’s high priced, and exposes Berkshire to a little more China and Regulation everywhere risk than it’s comfortable with. And it will likely remain the largest holding for some time. If it doubles next year—Berkshre will sell a little more.