Warren Buffett's move could prove unsettling for the broader stock market.
stake in a move that could prove unsettling for the broader stock market — both because the investor is so revered and because there had been little positive financial news lately.
However, he has trimmed the Apple stake over the past year and has recently also sold off some of his stock in Bank of America and Chinese EV maker BYD while doing very little buying. “This could could alarm the markets especially given the news from last week” with weak tech earnings, a disappointing jobs report and uncertainty about the future of interest rates, Edward Jones analyst Jim Shanahan said.and don't like to switch. He did trim more than 10% of Berkshire's Apple stake in the first three months of this year when he sold off more than 116 million shares, but the sale disclosed Saturday was a much bigger move.
Buffett has long cautioned investors that it's better to look at Berkshire's operating earnings when judging its performance because those figures exclude investment gains and losses which can vary widely from quarter to quarter.
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