Berkshire Hathaway - Berkshire Hathaway has reached a record cash pile of $381 billion, with earnings increasing by 33% [1][2] - The company's operating profit from insurance underwriting, particularly Geico, rose to $13.5 billion from $10.1 billion a year ago, aided by low catastrophe losses [2] - Berkshire was a net seller of equities, selling $12.5 billion and buying $6.4 billion during the period [2] - This report marks the final earnings announcement under Warren Buffett's leadership, with Greg Ael set to take over [3][4] - Shares have underperformed the S&P 500 this year, raising concerns among investors about future performance [5] ON Semiconductor - ON Semiconductor reported adjusted earnings of 63 cents per share, exceeding expectations, with revenue of $1.55 billion [6] - The company's automotive chip segment has faced challenges, with auto revenue hitting a three-year low, although management indicates conditions are improving [7][8] - There is potential for growth as demand may shift towards power management and sensors, positioning the company for the AI hardware boom [8] Cisco - Cisco received an upgrade from UBS, raising its price target from $74 to $88, indicating a potential upside of about 20% [10][11] - The upgrade is driven by growing demand for technology related to AI and data centers, with Cisco reportedly pulling in over $2 billion in AI-related orders this year [11][12] - Cisco is expected to benefit from an upgrade cycle as customers replace older networking gear, with security also seen as a bright spot for future growth [12][13]