Warren Buffett Discusses Apple, Cash, Insurance, Artificial Intelligence (AI), and More at Berkshire Hathaway's Annual Meeting

At Berkshire Hathaway's annual meeting, Warren Buffett discussed significant topics including the reduction of Berkshire's Apple stake by approximately 13%, raising concerns about market conditions and capital gains tax implications. Despite these sales, Buffett emphasized maintaining Apple as a major investment but also highlighted the strategy of increasing Berkshire's cash reserves, which are projected to surpass $200 billion. The meeting also addressed the robust performance of Berkshire's insurance operations and the potential impacts of climate change and autonomous driving on the industry. Additionally, Buffett expressed caution regarding the unpredictable outcomes of artificial intelligence, likening its potential to both beneficial and detrimental impacts similar to an atomic bomb.