Warren Buffett may invest for the long haul, but surely any money manager must wince at the thought of losing a $4 billion chunk of their portfolio. Apple shares tanked at the start of the year after CEO Tim Cook issued the company’s first profit warning in 12 years, blaming the US-Sino trade war and a subsequent weakening in demand in China. It’s possible Buffett, who has been buying APPL since January 2016, is still in the money on his position, but going by the recent market commentary it seems the general consensus is that his portfolio has taken a beating from this. Maybe this week’s bank earnings will bring some much-needed good news? Can banks replicate strong Q3 performance in turbulent conditions? Citigroup have already kicked things off – the first time in recent history that JPMorgan Chase hasn’t led the earnings charge. Citigroup beat analyst expectations of $1.55 EPS, delivering instead $1.61, but revenue undershot consensus by around half a billion dollars at $17.1bn. The bank blamed choppy market conditions towards the end of the year for a decline in bond trading revenue. Berkshire’s biggest holdings in terms of quantity of shares are Bank of America Corp. (877,248,600… Read full this story
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Bank earnings the next big threat to Buffett’s portfolio after Apple profit warning? have 318 words, post on www.cityam.com at January 14, 2019. This is cached page on Vietnam Art News. If you want remove this page, please contact us.