Berkshire Hathaway Reports Decline In Q3 Operating Earnings, Further Reduces Apple Stake
Portfolio Pulse from Nabaparna Bhattacharya
Berkshire Hathaway reported a decline in Q3 operating earnings, driven by weakness in insurance underwriting. The company further reduced its Apple stake, continuing a trend of selling off shares. Despite this, Berkshire's cash reserves reached a record high. The company holds significant stakes in American Express, Bank of America, Coca-Cola, Chevron, Kraft Heinz, and Occidental Petroleum.
November 02, 2024 | 3:19 pm
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NEGATIVE IMPACT
Berkshire Hathaway continues to reduce its stake in Apple, selling a significant portion of its holdings for the fourth consecutive quarter.
The continued reduction of Berkshire's stake in Apple may signal a lack of confidence in the stock, potentially leading to short-term downward pressure on Apple's stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 80
NEGATIVE IMPACT
Berkshire Hathaway's Q3 operating earnings declined due to weak insurance underwriting. The company continues to reduce its Apple stake, increasing cash reserves to a record $325.2 billion.
The decline in operating earnings and reduction in Apple stake suggest potential short-term pressure on Berkshire's stock price. However, the increase in cash reserves may provide some stability.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Berkshire Hathaway holds a significant stake in American Express, valued at $41.1 billion as of September-end 2024.
While Berkshire's stake in American Express remains significant, the news does not indicate any immediate changes or impacts on AXP's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Berkshire Hathaway holds a significant stake in Bank of America, valued at $31.7 billion as of September-end 2024.
Berkshire's stake in Bank of America is substantial, but the article does not suggest any immediate impact on BAC's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Berkshire Hathaway holds a significant stake in Chevron, valued at $17.5 billion as of September-end 2024.
Berkshire's stake in Chevron is mentioned, but the article does not suggest any immediate impact on CVX's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Berkshire Hathaway owns 26.9% of Kraft Heinz's outstanding shares as of September 30, 2024.
The article notes Berkshire's significant ownership in Kraft Heinz, but there is no indication of any immediate impact on KHC's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Berkshire Hathaway holds a significant stake in Coca-Cola, valued at $28.7 billion as of September-end 2024.
The article mentions Berkshire's stake in Coca-Cola, but there is no indication of any immediate impact on KO's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Berkshire Hathaway owns 28.2% of Occidental Petroleum's outstanding shares as of September 30, 2024.
Berkshire's significant ownership in Occidental Petroleum is mentioned, but the article does not suggest any immediate impact on OXY's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50