"Ferrari's Market Value Nears $100B as Stock Surges on Record Earnings"

Despite Warren Buffett's general reluctance to invest in automakers, he expressed confidence in Ferrari last year, and recent reports show that his instincts were right. Ferrari's net profit for 2023 increased by 34%, its forecast for 2024 was raised, and its order books are full until 2025, pushing its market cap close to $100 billion. Berkshire Hathaway has generally avoided automakers but made exceptions for China's BYD and GM in the past. Even with Elon Musk's attempts to persuade Buffett and his team to invest in automotive stocks, they have remained cautious. Ferrari's luxury brand and limited production have contributed to its success, and the recent news of Lewis Hamilton joining the team for the 2025 F1 season has further boosted its prospects.