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💰 BERKSHIRE SLASHES APPLE STAKE

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💰 BERKSHIRE SLASHES APPLE STAKE


WARREN BUFFETT HAS BEEN RAISING CASH

App Economy Insights
Aug 06, 2024
∙ Paid
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💰 BERKSHIRE SLASHES APPLE STAKE

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Welcome to the Premium edition of How They Make Money.

Over 140,000 subscribers turn to us for business and investment insights.

In case you missed it:

 * 🔎 Google: AI Spending Spree

 * 💻 Microsoft: Azure Slowdown

 * ☁️ Amazon: This Team is Cooking

 * 📊 PRO: This Week in Visuals: AAPL, META, MA, AMD, INTC…


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Warren Buffett’s Berkshire Hathaway, the 8th largest company in the world,
shocked Wall Street this weekend.

📱📉 Berkshire sold nearly half of its Apple stock.

We are talking about 390 million AAPL shares worth ~$81 billion at today’s
price.

The conglomerate has been a net seller in Q2, selling $77 billion of stocks,
bringing the company’s cash pile to $277 billion at the end of June.

What's behind Buffett's massive cash grab?

Could it be connected to this week’s stock market meltdown?

Today at a glance:

 1. Berkshire Q2 FY24.

 2. Insights from Buffett selling Apple.

 3. Why did Buffett choose cash over stocks?

--------------------------------------------------------------------------------




1. BERKSHIRE Q2 FY24


Berkshire Hathaway owns many businesses across various industries, from
insurance and finance to manufacturing and retail. The company's portfolio
includes well-known brands such as GEICO, Dairy Queen, Duracell, and several
lesser-known but highly profitable subsidiaries.



Income statement:

 * Revenue grew +1% Y/Y to $93.7 billion.
   
   * 🦎 Insurance grew +11% Y/Y to $26.0 billion (27% operating margin).
   
   * 🚊 BNSF flat Y/Y to $5.8 billion (28% margin).
   
   * ⚡️ BHE grew +2% Y/Y to $6.5 billion (5% margin).
   
   * ⛽ Pilot declined 12% to $13.0 billion (2% margin).
   
   * 🧑🏼‍🏭 Manufacturing grew +4% Y/Y to $19.8 billion (16% margin).
   
   * 🍔 McLane declined 3% Y/Y to $12.5 billion (1% margin).
   
   * 🍫 Services & retailing decline 2% Y/Y to $9.9 billion (10% margin).




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