Berkshire Hathaway Slashes Apple Stake by Two-Thirds in 2024

November 4, 2024

mage source: Wikimedia Commons (Berkshire Hathaway logo) Apple Logo | Adobe Stock (Warren Buffet)

Breaking News

Image source: Wikimedia Commons (Berkshire Hathaway logo)
Apple Logo | Adobe Stock (Warren Buffet)

Berkshire Hathaway Slashes Apple Stake by Two-Thirds in 2024. 💼 Warren Buffett's Berkshire Hathaway sold an additional 25% of its Apple shares in Q3, reducing its position to about 300 million shares. This move is part of a broader strategy to increase cash holdings, which reached $325.2 billion by the end of the quarter, despite Apple's year-to-date stock increase of 20%. MarketWatch reports.

EdgeUp

🌐 GlobalExtend: Apple satellite connectivity provider Globalstar stock surges after deal extension. Benzinga reports.

☁️ SkyHigh: Amazon’s cloud unit records highest profit margin in at least a decade. CNBC reports.

💼 StrikeDeal: Boeing shares rise on hopes new wage offer will end strike. Yahoo Finance reports.

💪 ChipsUp: Intel shares jump 7% on earnings beat, uplifting guidance. CNBC reports.

➡️ NextSiemens: Siemens can make more acquisitions after Altair deal, exec tells paper. Reuters reports.

🧾 iTax: Apple reports better-than-anticipated Q4 revenue, earnings hurt by EU tax payment. Yahoo Finance reports.

Top 5 Movers in Early Pre-Market

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $RXRX: Recursion Pharmaceuticals

Total gain: 4181.89%

2. $NUWE: Nuwellis
Total gain: 89.7%

3. $VSTE: Vast Renewables
Total gain: 74.58%

4. $SGMA: Sigmatron International

Total gain: 61.85%

5. $OMIC: Singular Genomics Systems
Total gain: 59.28%

Trading Strategies

* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 9 AM ET for "Pre-Market Momentum".

Unlocking the Power of Stock Scanners in Your Small Cap Trading Strategy


When it comes to trading, having the right tools at your disposal can make all the difference. Today, I want to dive into one of my favourite tools: stock scanners. If you’re aiming to enhance your trading experience and protect your investments, knowing how to leverage stock scanners is crucial. Let’s break down how to get the most out of them.

What Are Stock Scanners?

Stock scanners are powerful tools that help traders quickly filter through thousands of stocks to find those that meet specific criteria. They can be customized with filters based on price, market cap, volume, and technical indicators like moving averages. By setting up a scanner, you save yourself the time and effort it would take to manually search for these opportunities. The key is in knowing what to look for and how to interpret the results.

Friday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on November 1.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $VSTE: Vast Renewables

Total gain: +145.03%
The stock appeared to be moving on no notable news.

2. $CDXC: ChromaDex
Total gain: +68.48%
The company reported third-quarter 2024 financial results, highlighting strong performance across key metrics. Total net sales reached $25.6 million, with Tru Niagen contributing $18.1 million, reflecting year-over-year growth of 31% and 4%, respectively. The gross margin improved to 63.5%, up 210 basis points from the same period last year. Sales and marketing expenses dropped to 27.5% of net sales, marking a 350-basis-point improvement over last year’s 31.0%. The company achieved a net income of $1.9 million, or $0.02 per share, representing an increase of $2.8 million and $0.03 per share compared to the prior year. Benzinga reports.

3. $PRLB: Proto Labs
Total gain: +38.65%
The company reported third-quarter financial results for the period ending September 30, 2024, with revenue totaling $125.6 million, a 3.9% decline from the record $130.7 million achieved in the same quarter of 2023. Revenue from the Protolabs Network rose 11.6% year-over-year to $25.3 million. Net income was $7.2 million, or $0.29 per diluted share, compared to $8.0 million, or $0.31 per diluted share, in the prior year’s third quarter. Benzinga reports.

Today’s Notable Earnings

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

GT: Goodyear Tire & Rubber
3Q 2024
After Market Close
Estimate: 0.210
Actual: N/A

RRX: Regal Rexnord
3Q 2024
After Market Close
Estimate: 2.470
Actual: N/A

BWXT: BWX Technologies
3Q 2024
After Market Close
Estimate: 0.770
Actual: N/A

Today’s Key Economic Dates

Time (ET) / Report / Period

10:00 am - Factory orders - September

Parting Thoughts

“A speculator’s chief enemies are always boredom from within and volatility from without.”

― Edwin LefèvreSourced in:
"Reminiscences of a Stock Operator", by Edwin Lefèvre, published in 1923