Warren Buffett's Strategic Shift: Berkshire Hathaway's Record Cash Reserves Amid Economic Uncertainty

In a move that signals a cautious outlook on the economy, Warren Buffett's Berkshire Hathaway has amassed a staggering $277 billion in cash reserves, significantly trimming its holdings in Apple. This strategic shift comes in the wake of a record-breaking operating profit for the conglomerate.

Berkshire's latest quarterly results underscore Buffett's wariness of the broader U.S. economy and high stock market valuations. Notably, the company sold roughly $75.5 billion worth of stocks, drastically cutting its Apple stake as the iPhone maker's stock soared 23%.

While Berkshire's diverse portfolio, including insurance giants like Geico, saw a 15% rise in profit to $11.6 billion, overall revenue growth was a modest 1%. The company's cautious approach and significant cash reserves suggest a defensive stance amid economic uncertainties.

(With inputs from agencies.)