Already a subscriber?Berkshire Hathaway became the first US company outside the technology sector to surpass $US1 trillion in market value.rose as much as 0.8 per cent on Wednesday to push its market capitalisation above the trillion-dollar mark for the first time.
Berkshire’s rally this year has outpaced the S&P 500’s gains, with the company off to one of its best annual starts in a decade. It’s gained 30 per cent in 2024, while the market benchmark is up 18 per cent. The company isn’t that far behind the so-called “magnificent seven”: the biggest tech stocks are collectively up 35 per cent this year.Buffett has spent the bulk of his life turning Berkshire Hathaway from a struggling textile maker into a sprawling business empire.
The stock has added more than $US200 billion in market capitalisation this year alone – a record for the firm, but a sharp contrast to Nvidia’s nearly $US2 trillion increase. Berkshire’s rally has pushed it into overbought territory, based on the relative strength index, and prompted a bit of reticence from analysts.