Billionaire Warren Buffett has sold nearly half his stake in Apple, a move that sent the tech giant’s stock down 7% in premarket trading.

As mentioned in Berkshire Hathaway’s quarterly results announcement, at the end of the second quarter the group’s stake in the iPhone maker amounted to $84.2 billion, which means the company sold almost half of its stake in Apple. according to CNBC. Even after selling this huge percentage, holding Apple remains the largest position which the Berkshire group has.

The sale of Apple shares is part of a broader selling plan by Warren Buffett as during the second quarter of the year the mega-investor sold shares worth more than $75 billion. increasing its cash cushion to $277 billion.

Buffett sold his 13% stake in Apple during the first quarter of the year, a move he attributed – at Berkshire’s annual general meeting in May – to tax reasons. As he characteristically said, selling “a little bit of Apple” this year will benefit Berkshire shareholders in the long run, if the capital gains tax is raised in the US by a government that will want to cover the growing budget deficit.

However, according to CNBC, the large percentage of Apple that Buffett sold it might be something more from a simple move against taxes.