Alex Wong
Warren Buffett’s Berkshire Hathaway (NYSE:BRK.B) (NYSE:BRK.A) is inching towards joining the $1T club, with its market capitalization reaching close to $993B on Tuesday.
Berkshire (BRK.B) shares rose as much as 1.7% on Tuesday, before ending 1.4% higher at $460.63 apiece. The stock has gained 29.2% this year, and is up 7.5% since the investment giant’s last earnings report.
If its market value hits $1T, that would make it the eighth U.S. company to ever reach the milestone and the ninth globally.
The $1T club currently includes Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOG) (GOOGL), Amazon (AMZN), Meta (META), and Saudi Aramco (ARMCO). Tesla (TSLA) joined the club in 2021, but its market cap has since declined significantly to $668.35B.
Berkshire (BRK.B) is viewed favorably by Wall Street, with analysts on average rating the stock Buy. Seeking Alpha Quant rates the stock Strong Buy.
Investing Group Leader Daniel Jones believes Berkshire (BRK.B) is appealing for long-term, value-oriented investors. “While shares might not be the cheapest, it is expected that you pay a premium for such a high-quality enterprise.”
On the other hand, REITer’s Digest is neutral on the stock, given its rapid appreciation over the past two months and the company’s stretching valuation.
