Apple(US:AAPL) Sou Hu Cai Jing·2025-05-04 09:57Core Insights - Warren Buffett announced that Greg Abel will succeed him as CEO of Berkshire Hathaway in 2026, marking a significant transition for the company [1] - The investment community is questioning Buffett's faith in the U.S. amid declining confidence in American investments globally [1][3] - Buffett's long-standing belief in the U.S. economy remains, but he acknowledges imperfections in the system and the challenges posed by opportunists [3][14] Investment Strategy - Buffett has reduced his stake in Apple and U.S. Bank, accumulating a cash reserve of $345 billion, indicating a strategic shift towards liquidity [7][10] - The decision to hold cash is not seen as conservative but as a strategy to wait for better investment opportunities [10] - Berkshire Hathaway's investment philosophy emphasizes patience and timing, with Buffett stating that they have profited by not rushing to invest [10] Market Outlook - Buffett's future investments may still favor the U.S., but he is open to international opportunities, as evidenced by past investments in Japanese trading companies [13] - Concerns about the U.S. fiscal deficit and trade policies are prevalent, with Buffett criticizing zero-sum trade perspectives [14] - The current market dynamics suggest that while U.S. companies remain strong, their valuations may be excessively high compared to international counterparts [17] Company Evolution - Buffett's investment portfolio reflects traditional American industries, primarily in finance, consumer goods, and energy, but lacks exposure to leading tech companies [16] - The rise of tech giants like Apple, Meta, and Amazon has driven market performance, raising questions about the relevance of Buffett's investment strategy for future growth [16] - Buffett emphasizes the need for Berkshire Hathaway to adapt to ongoing revolutionary changes in the market [18]