Apple to sell off its $US150 billion investment fund

Apple is expected to announce plans to sell its stake in online travel and travel services provider AT&T Financial Services on Wednesday.

The tech giant plans to slash its investment in AT&ts investment fund to about US$150 billion ($234 billion) as it looks to cut its debt burden and diversify its business.

The move will be seen as a victory for Apple, which has struggled to stay relevant in a crowded industry.

Apple is the world’s largest technology company, with revenues of US$1.3 trillion ($1.7 trillion) and net income of US$,500 billion ($547 billion).

But its value has tumbled as it has shed retail brands and launched cheaper iPhones.

Apple shares fell nearly 8% in premarket trading on Wednesday after it reported a fourth straight quarterly loss.

The company has faced mounting criticism from investors, including investors in China, as it struggles to stay competitive.