Why Is Warren Buffett Selling Amazon Stock Instead of Buying It Hand Over Fist?
Amazon (NASDAQ: AMZN) looks as impressive as it has in years. The stock is up close to 75% year to date. The tech titan's profitability is increasing. It's moving into exciting new areas.
I wrote only a few weeks ago that Amazon ranked among three Warren Buffett stocks with strong moats to buy right now. However, the Oracle of Omaha apparently doesn't have the same point of view. Berkshire Hathaway's (NYSE: BRK.A) (NYSE: BRK.B) latest 13F filing revealed that the conglomerate trimmed its stake in Amazon by roughly 5%. Why is Buffett selling Amazon stock instead of buying it hand over fist?
First, it's important to acknowledge that Buffett probably didn't make the decision to sell some of Berkshire's shares of Amazon. He didn't make the original call to buy the stock, either.
Source Fool.com
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