AsianFin -- Berkshire Hathaway's Class A shares reached a new milestone this week, surpassing $750,000 for the first time. On Monday, the stock peaked at $755,968 before settling lower, but continued its upward momentum on Tuesday, hitting a record high of $759,923.94.
The company, led by billionaire Warren Buffett, saw a 4% increase—an $28,735 jump—in stock price on Monday after posting strong fourth-quarter earnings over the weekend.
Now valued at around $1.1 trillion, Berkshire Hathaway is the seventh-largest company in the S&P 500 and the only trillion-dollar company without a tech focus.
The fourth-quarter earnings report showed a 71% year-over-year rise in operating profits, reaching $14.53 billion. A significant portion of this growth came from a boost in investment income, largely due to the interest earned on its sizable $334 billion cash reserve.
In his annual shareholder letter, Buffett addressed the company’s massive cash pile, explaining that it doesn’t reflect a bearish outlook on the stock market.
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