Berkshire Hathaway was buying shares in IBM since March
It was revealed on Monday that Warren Buffett, one of world’s prominent investors, has bought up to 5.4% stake in IBM, worth $10.7bn, in the last eight months.
Buffett’s Berkshire Hathaway investment firm has been reportedly buying shares in IBM since March.
Earlier, Buffett, who was averse to investing in technology firms, said that he had been impressed by IBM’s road map to attract IT firms outside the US to sign up to its services.
He added, "If you’re in some country around the world and you’re developing your IT department you’re probably going to feel more comfortable with IBM than with many companies."
Though Berkshire started buying IBM shares in March, Buffett kept the stake secret until Monday. This was because the firm did not cross reporting thresholds on the investment until the third quarter.
Buffett also added that he does not plan to increase his stake further in IBM.