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A double-whammy for Berkshire Hathaway

Published 01/03/2019, 11:13 AM
© Reuters.  A double-whammy for Berkshire Hathaway
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  • Apple's (AAPL -8.9%) decline after cutting its Q1 revenue guidance means at least ~$3.8B paper loss for Berkshire Hathaway (NYSE:BRKa)'s (BRK.B -4.3%)(BRK.A -4.3%) 252M-share stake in the maker of iPhones.
  • Berkshire's stock is taking an even bigger hit. Markets are down broadly as Apple's lower expectations stem from weaker demand from China.
  • With B shares losing $8.64 in late morning trading multiplied by 2.46B shares outstanding, Berkshire has lost $21.4B in market cap just this morning.
  • The Oracle (NYSE:ORCL) of Omaha, though, is famous for focusing on long-term returns and ignoring the day-to-day gyrations of the stock market.
  • Previously: Berkshire Hathaway goes 30-year fixed on $1B in debt (Jan. 3)
  • Now read: Apple: A New Growth Era


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