Berkshire Hathaway’s annual meeting in Omaha drew a record crowd of nearly 20,000 as Warren Buffett took the stage for his 60th year, but not everything was business as usual. While Berkshire’s Class A stock soared to an all-time high-up almost 19% in 202, far outpacing the S&P 500’s decline-Buffett delivered sobering news about the company’s latest results and the market’s future
Operating profit for the first quarter fell 14% to $9.64 billion, with insurance underwriting profits plunging nearly 50%. This marks the tenth straight quarter where Berkshire sold more stock than it bought, boosting its cash reserves to a record $347 billion Buffett, joined on stage by likely successor Greg Abel, emphasized that tariffs and trade wars are weighing on the company’s results, warning that “trade should not be a weapon”
Despite the earnings dip, investors remain bullish thanks to Berkshire’s defensive business mix and massive cash pile. The meeting also saw Buffett praise Apple CEO Tim Cook, noting Apple’s continued importance to Berkshire’s portfolio-even as the company trimmed its stake
With succession plans in the spotlight and market volatility rising, all eyes remain on Buffett’s next move and how Berkshire will deploy its unprecedented cash reserves.
