Morning Brew Daily Berkshire Dumps More Apple Stock & Boeing’s Costly Space Test
May 6, 2024
Berkshire Hathaway continues to sell off Apple stock, boosting its cash reserves. Boeing gears up for a pivotal space test, sending its first astronaut team into orbit. Antitrust arguments against Google loom large, with potential industry-wide ramifications. Music diss tracks heat up as Kendrick Lamar and Drake face off in a streaming showdown. Meanwhile, retro gaming sees a resurgence as Apple grapples with emulators climbing the app charts. There's excitement building for the upcoming Met Gala, alongside concerns over Apple's iPad sales.
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Succession Plans
- Succession plans at Berkshire Hathaway are crucial given the company's close association with Buffett and Munger.
- Shareholders seem confident in the abilities of successors Greg Abel and Ajit Jain.
Cash Pile Grows
- Berkshire Hathaway's cash pile is growing and could reach $200 billion.
- The company's operating income is also up, thanks to cash flow and interest income.
Apple Stock Trimmed
- Buffett trimmed his Apple stock holdings for tax purposes, not due to concerns about the business.
- Berkshire Hathaway's diverse portfolio gives insights into the overall U.S. economy.