Berkshire Hathaway trading above 50-day SMA, analysts predict 11.2% upside potential

From Nasdaq: 2024-12-20 10:12:00

Berkshire Hathaway Inc. (BRK.B) shares are trading above the 50-day simple moving average, indicating a short-term bullish trend. With a market cap of over $986.6 billion and an average trading volume of 3.7 million shares, it is attracting investors from a technical standpoint.

BRK.B shares have surged 26.4% year to date, outperforming the industry, finance sector, and the S&P 500. Analysts have set an average price target of $496.50 per share, suggesting an 11.2% upside from the current price.

Berkshire’s insurance business contributes significantly to its earnings, with 40% coming from insurance operations. Catastrophe events have impacted profitability, with losses estimated between $1.3 billion to $1.5 billion from Hurricane Milton in 2024.

Despite trading at a premium, Berkshire Hathaway offers dynamism to portfolios. With optimistic analyst sentiment, growth projections, and Warren Buffet at the helm, the stock is viewed favorably for better returns. Analysts have raised estimates for 2024 and 2025, indicating growth potential.

A leading semiconductor stock, significantly smaller than NVIDIA, is poised for growth amid rising demand for AI, Machine Learning, and IoT. Global semiconductor manufacturing is projected to increase from $452 billion in 2021 to $803 billion by 2028.



Read more at Nasdaq: Berkshire Hathaway Trades Above 50-Day SMA: What to Do With the Stock?