Previous close | 5.70 |
Open | 11.40 |
Bid | 8.90 |
Ask | 9.10 |
Strike | 190.00 |
Expiry date | 2024-10-18 |
Day's range | 8.70 - 11.70 |
Contract range | N/A |
Volume | |
Open interest | 4.61k |
Berkshire Hathaway cut its stake in Apple by about 13% as its cash pile hit a record high in the first quarter. A bearish signal all around?
Berkshire Hathaway's first quarter profits plummeted along with the paper value of its investments, but the company said Saturday that most of the businesses it owns outright performed well. The figures were heavily influenced by a large drop in the paper value of Berkshire’s investments. Buffett encourages investors to pay more attention to the conglomerate’s operating earnings that exclude the investment figures.
Berkshire Hathaway saw operating profits rise 39% after taxes in the first quarter to a record $11.2 billion, boosted by strength in the company’s property and casualty insurance business and higher investment income. Berkshire also reduced its massive stake in Apple during the first quarter by about 13% to 790 million shares, Barron’s calculates, based on information in the Berkshire 10-Q report released in conjunction with the earnings. Berkshire had held 905 million shares of the iPhone maker at year-end 2023.