SIRI expands content and improves engagement, but with falling subscription revenues and strong competition, investors can wait for better entry points.
In case you haven't noticed, the bulls have been running the show on Wall Street for almost 2.5 years. Since the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite bottomed out in October 2022, all three major indexes have rocketed to multiple all-time highs.
Berkshire Hathaway owns dozens of stocks. But Sirius XM (SIRI 1.13%) is an under-the-radar business that has popped up in the portfolio in a meaningful way in the past year.
Investors may not know what to make of Sirius XM Holdings (SIRI -1.75%) stock. The company has what amounts to a legal monopoly for satellite radio in the U.S. Nonetheless, this does not include internet-based media, meaning its satellite-based domination has not eliminated its competition.
A lot can happen in a year. Sirius XM Holdings (SIRI 0.42%) investors know that in a bad way.
Last year, Warren Buffett, through his conglomerate Berkshire Hathaway (BRK.A -0.33%) (BRK.B -0.19%) was a huge net seller of stocks. The Oracle of Omaha took a hacksaw to his two largest stakes in Apple and Bank of America, selling a massive $133 billion against just $6 billion in buys through the first nine months of 2024.
It's no big secret that Warren Buffett has been a net seller of stocks recently. Thanks to several massive stock sales, and a few smaller ones, Berkshire Hathaway's (BRK.A 0.50%) (BRK.B 0.52%) cash stockpile has ballooned to $325 billion as of the most recent quarter, far more than the conglomerate has ever had on hand before.
Sirius XM Holdings Inc. NASDAQ: SIRI operates the country's only FCC-licensed satellite radio service, SiriusXM. The subscription service offers over 200 channels of music, news, talk, podcasts, sports and entertainment.
Warren Buffett and his team at Berkshire Hathaway are some of if not the best investors ever. That's why it shouldn't surprise investors to learn that Buffett is often a step or two ahead of the broader market.
Warren Buffett is a big fan of Sirius XM Holdings (SIRI 2.58%). Or, at least someone on his investment team is.
Warren Buffett still likes satellite radio.
Sirius XM Holdings (SIRI -0.04%) is facing a transitional year. In 2024, shares declined 58%.