Related News
Buffett buys 5.6% of IBM
November 15, 2011, Tuesday
|
Print Edition
Print Edition
INVESTOR Warren Buffett said his company bought US$10.7 billion of IBM stock this year, a 5.6 percent stake.
Buffett revealed the new investment during an interview on CNBC yesterday.
He has long refused to invest in high-tech companies because he has said it's too difficult to predict which technology businesses will prosper in the long run.
But he said he recently changed his view of IBM after reading the company's annual reports. He said he should have realized years sooner that the heart of IBM's business is providing service and equipment to IT departments.
"There's a fair amount of presumption in many places that if you're with IBM, you stay with them," Buffett said.
So his Berkshire Hathaway Inc has bought about 64 million shares since March, or about 5.6 percent of IBM. Buffett said he believes IBM has a sound plan for the future.
Berkshire's investments are closely watched in the market because of Buffett's successful record.
Buffett revealed the new investment during an interview on CNBC yesterday.
He has long refused to invest in high-tech companies because he has said it's too difficult to predict which technology businesses will prosper in the long run.
But he said he recently changed his view of IBM after reading the company's annual reports. He said he should have realized years sooner that the heart of IBM's business is providing service and equipment to IT departments.
"There's a fair amount of presumption in many places that if you're with IBM, you stay with them," Buffett said.
So his Berkshire Hathaway Inc has bought about 64 million shares since March, or about 5.6 percent of IBM. Buffett said he believes IBM has a sound plan for the future.
Berkshire's investments are closely watched in the market because of Buffett's successful record.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
