Berkshire Hathaway Q1 Earnings Summary
Source: Reuters
📌Berkshire Hathaway Announces First Quarter Results Operating profit jumps 39% to a record $11.2 billion.
📌Apple Stake Reduction
* Berkshire sells 13% of its Apple shares, reducing the value of its stake to $135.4 billion.
* Cash hoard soars due to the sale. *Buffett remains bullish on Apple, calling it "an even better business" than other major holdings.
* Apple to remain Berkshire's biggest holding barring unforeseen events.
📌Other Highlights
* Berkshire's cash pile may grow to $200 billion due to market risks.
* Charlie Munger not attending shareholder meeting due to health reasons. * Shareholders re-elect all directors and reject shareholder proposals.
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