Berkshire Hathaway beats earnings estimates, sells stock in Apple

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Berkshire Hathaway stock was down 3% on Monday. The company run by Warren Buffett beat earnings and revenue estimates.

Key points It sold a big chunk of Apple stock, its largest holding. The conglomerate run by Warren Buffett made some major moves in the second quarter. Berkshire Hathaway , the conglomerate run by Warren Buffett, beat earnings estimates in its fiscal second quarter and made some major moves within its $285 billion stock portfolio. The biggest move made last quarter was to sell a huge chunk of its stake in Apple .

Buffett apparently did not swap in another stock after selling Apple, as the portfolio is down to $285 billion, from $331 billion at the end of Q1. Buffett now has a massive pile of cash on the sidelines, about $277 billion – a record for the company. That means that Berkshire Hathaway has almost as much sitting in cash as it does have invested in stocks. Most of the cash, roughly $234 billion, is in Treasury bills, up from $129 billion at the end of 2023.

 

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