Buffett's Berkshire Hathaway Slashes Amazon Stake By 75%, Bets $350 Million On New York Times

In a significant move, Warren Buffett's Berkshire Hathaway has reduced its stake in Amazon by 75%, a decision that has caught the attention of investors and analysts alike. This divestment comes as Berkshire Hathaway pivots its focus towards new opportunities, notably investing $350 million in The New York Times Company. Following this announcement, shares of The New York Times surged over 10% in after-hours trading, reflecting strong market optimism regarding the paper's future prospects. This strategic shift by Berkshire Hathaway signals a changing landscape in investment priorities amidst evolving market conditions. Historically, Buffett has been a proponent of long-term investments in technology companies, making this move particularly noteworthy as it reflects a reassessment of the growth potential in the tech sector. With the media industry facing challenges and opportunities in the digital age, Berkshire's investment in The New York Times suggests a belief in the company's capacity to adapt and thrive. Investors will be eager to see how these changes impact both Berkshire's portfolio and the broader market trends in the coming months.