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Berkshire's money sets record as Buffett offers Apple, BofA; operating profit falls

Warren Buffett and Berkshire Hathaway extended their retreat from stocks in the third quarter, offering more Apple shares and improving cash to a record $325.2 billion, while the business's operating profit decreased.

In its quarterly report on Saturday, Berkshire stated it sold about 100 million Apple shares, on top of several billion dollars of Bank of America shares.

Berkshire repurchased none of its own stock in the quarter, suggesting that Buffett does not view even his own business's. shares as a deal.

Operating benefit from Berkshire's lots of organizations such. as the BNSF railway and Geico cars and truck insurance fell 6% to $10.09. billion, or about $7,019 per Class A share, from $10.76 billion. a year previously.

Net income amounted to $26.25 billion, or $18,272 per Class A. share, compared to a loss of $12.77 billion, or $8,824 per. share, a year previously when falling stock prices decreased the. value of Berkshire's financial investments.

(source: Reuters)