Did Warren Buffett Dump This Artificial Intelligence (AI) Stock Too Soon? It's Up 26% Since Berkshire Hathaway Hit the Sell Button.

Warren Buffett is the CEO of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B). Over his 59-year tenure, Berkshire stock has delivered a compound annual return of 19.8%, almost twice the average annual return in the S&P 500 over the same period. Therefore, it's no surprise that Wall Street watches Buffett's every move. He is on a selling spree this year, trimming several long-standing holdings in Berkshire's portfolio. Snowflake (NYSE: SNOW) is one stock the conglomerate sold entirely during this year's second quarter.The cloud computing company faces a number of challenges, and its stock barely delivered any gains during its four-year stint in Berkshire's portfolio. However, thanks to the company's growing presence in the artificial intelligence (AI) industry, Snowflake stock has jumped 26% since Buffett and his team sold out a few months ago.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool