Berkshire Hathaway Chairman and CEO Warren Buffett will preside over the company's annual meeting. Track all of the day's news and analysis here.Saturday will be broadcast exclusively on CNBC and livestreamed on CNBC.com. The special coverage will begin at 9:30 a.m. ET and all the day's events will be chronicled here.Sign up for NBC Philadelphia newsletters.
"I think it's safe to say that interest rates are stable," said Cathy Seifert, senior vice president at CFRA Research."And, in a stable-to-declining interest rate environment, a lot of Berkshire's economically sensitive businesses should do reasonably well."on the company. Her 12-month price target of $472 implies Berkshire shares can climb roughly 18% from Thursday's closing price of $400.60 per share., Berkshire's Apple holdings have declined.
The move could be prompted by valuation concerns. Apple rallied 48% in 2023, making up 50% of Berkshire's portfolio at its peak.continues to sit on a massive cash pile. Its first-quarter earnings report reveals cash equivalents climbed to $188.99 billion from $167.6 billion at the end of 2023. Many speculated that the secret purchase could be a bank stock as the conglomerate's cost basis for"banks, insurance, and finance" equity holdings jumped by $3.59 billion in the second half of last year, according to separate Berkshire
For the first time, Berkshire will broadcast its annual meeting movie that had previously always been reserved only for those in attendance in Omaha. Many speculate this year's will be a tear-jerker tribute to Munger.
Source: News Formal (newsformal.com)
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