Buffett's Berkshire Hathaway hits $1 trillion market value, first U.S. company outside of tech to do so

Published On Aug 28, 2024, 9:54 AM

Berkshire Hathaway, led by Warren Buffett, has achieved a market capitalization of $1 trillion, marking it as the first U.S. non-tech company to reach this milestone. The company's stock rose over 28% in 2024, significantly outperforming the S&P 500. Analysts attribute this achievement to Berkshire's robust financial strategies and diverse portfolio encompassing insurance, railroads, and consumer goods, alongside a substantial holding in Apple. Recently, Buffett has been increasing Berkshire's cash reserves while selling off portions of its stock, indicating a cautious approach towards potential market uncertainties. Analysts have revised earnings expectations upward reflecting strong performance, especially in insurance.

Read full article

Stock Forecasts

BRK.AView BRK.A chart on TradingView

Positive

Berkshire Hathaway has shown resilience and strength, particularly in its traditional sectors which are performed well. As the market's uncertainty grows, investors may view Berkshire as a safe hold given its substantial cash reserves and strong fundamentals.

Related News

Ajit Jain, Buffett's insurance leader for nearly 40 years, dumps more than half of Berkshire stake

Sep 12, 2024, 8:47 AM

The 73-year-old vice chairman of insurance operations sold 200 Berkshire Class A shares on Monday for roughly $139 million.

BRK.A

Warren Buffett leads Berkshire Hathaway to new heights at age 94

Aug 30, 2024, 9:21 AM

"It's been a matter of a well thought out strategy prosecuted for seven decades with discipline, consistency, and unusual insight," Oaktree's Howard Marks said.

BRK.A

Warren Buffett’s Berkshire Hathaway Hits $1 Trillion in Market Value

Aug 28, 2024, 4:10 PM

The conglomerate joined a small club of companies that have crossed the mark.

BRK.A