Berkshire's cash hits $277 billion as Buffett slashes Apple stake; operating profit sets record

Category: Finance

Warren Buffett has reduced Berkshire Hathaway's stock holdings, particularly in Apple, while cash reserves have surged to nearly $277 billion. The company reported a record quarterly operating profit despite a decline in net income. Analysts suggest that the increased cash may indicate concerns about the U.S. economy, as Buffett remains cautious about investments amidst rising stock prices and potential Federal Reserve rate cuts.

Keywords: Warren Buffett, Berkshire Hathaway, Apple shares

Source: Yahoo Finance

Update At: 8/3/2024

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