Warren Buffett’s decision to reduce Berkshire Hathaway’s stake in Apple Inc. (AAPL) and cut back on other major holdings, while also increasing positions in more defensive, recession-resistant stocks like Ulta Beauty (ULTA), has certainly sparked a lot of debate among investors and analysts. Given Buffett’s reputation for making long-term, value-driven investments, many are now asking whether this is an indication of his caution regarding the economic outlook, or just a tactical adjustment in his portfolio.