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The iPhone 13 displayed at the Fifth Avenue Apple Store
Spencer Platt/Getty Images
Norway’s central bank recently trimmed its exposure to iPhones, and increased investments in the ecosystem of alternate-fuel vehicles, and graphics chips.
Norges Bank sold
Apple
(ticker: 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. The bank had total assets of $1.47 trillion as of the end of 2021.
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.
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