Warren Buffett, the CEO of Berkshire Hathaway, has made changes to his stock portfolio. He sold shares in three big companies. Buffett cut back on his stake in Apple by two-thirds as of September 30.
This is despite his admiration for Apple CEO Tim Cook. The decision to sell was likely due to tax reasons and soft iPhone demand. Berkshire Hathaway also sold a big portion of its stake in Bank of America in the third quarter.
Buffett began selling shares of the bank in mid-July. His position in Bank of America has been profitable since he bought $5 billion in the bank in 2011.
Buffett’s stock portfolio changes summarized
Buffett also sold nearly all of Berkshire Hathaway’s stake in Ulta Beauty, reducing shares by 96.5%. The investment in the beauty retailer had been recent, with a big purchase in the second quarter. Despite this, the stock struggled, leading to a likely small impact on Berkshire’s portfolio.
Recent activity in the stock market has shown various developments. Political talks over electric vehicles have boosted Tesla’s confidence. Cathie Wood has sold $5 million worth of shares in two rising tech companies.
Nvidia’s recent earnings have gotten a lot of attention, as analysts weigh in on the tech giant’s performance. As the year ends, investors are watching inflation reports, holiday trading patterns, and the performance of key players in the market. United Airlines appears ready for profit-taking after a strong run.
