Warren Buffett’s Berkshire Hathaway has become the first non-technology US company to reach a $1 trillion market capitalization, CNBC reports.
The conglomerate, which owns businesses like BNSF Railway, Geico Insurance, and Dairy Queen, achieved this milestone after its shares surged over 28% in 2024, outperforming the S&P 500’s 18% gain. The company’s recent gains were partly driven by a large Apple stake. Berkshire’s stock price hit a high of $699,440.93, driving its market value past $1 trillion just days before Buffett’s 94th birthday.
However, Buffett has recently taken a defensive stance, selling a large portion of the company’s Apple stake and increasing Berkshire’s cash reserves to a record $277 billion, sparking speculation about his market outlook.
