Norway’s Norges bank sells Apple stock!
Norway’s central bank recently trimmed its exposure to Apple,Â
while increased investments in the ecosystem of alternate-fuel vehicles, as well as graphics chips.
Norges Bank sold Apple (AAPL) stock, and bought up shares of
Nvidia (NVID), Plug Power (PLUG), and NIO ( NIO ) in the fourth quarter.
The bank disclosed the stock trades, among others, in a revised form it filed with the Securities and Exchange Commission last week.
Norges said it doesn’t comment on individual investments
*Barron’s tweet on Norge’s Bank
Norges Bank trimmed its investment in iPhone maker Apple, and bought shares of chip maker Nvidia, hydrogen fuel-cell firm Plug Power, and EV maker NIO. https://t.co/59ADWGJnUi
— Barron's (@barronsonline) March 13, 2022
The bank sold 26.8 million Apple shares to end the fourth quarter with 142.1 million shares of the maker of iPhones and Mac computers.
Apple stock soared 33.8% last year, topping the 27% rise in the S&P 500 index. So far this year, the shares have slipped 13%, but that’s less than the 12% drop in the index.
Nvidia is high-profile tech stock that is down recently.
Shares of the graphics-chip giant are down 25% year to date.
Norges Bank more than tripled its holdings by buying 15.4 million more Nvidia shares to end 2021 with 21.3 million shares.
In the fourth quarter, Norges Bank bought 2.6 million additional Plug Power shares and 3.2 million more NIO ADRs to end 2021 with 7.4 million Plug Power shares and 13.7 million ADRs of NIO.
