Buffett sells a third of Berkshire Hathway's venture in IBM

- Abhishek Kumar   05-05-2017

          


Warren Buffett said he has sold one-third of Berkshire Hathaway Inc's share in IBM Corp, as CNBC reported, diminishing a bet by the renowned worldwide financial specialist that astounded many people and which doesn’t seem to be successful either.

 

IBM's stock touched $180 on February 2014 and achieved a high of $182.78 in February 2016 trading. But, it reduced to $159.05 yesterday on the New York Stock Exchange. Berkshire and Buffett's right hand did not quickly react to phone and email demands for input. IBM couldn't be gone after remark outside standard business hours.

 

Buffett claimed around 81 million shares of IBM toward the end of 2016 and sold about a third in the first and second quarters of 2017, CNBC announced, referring to Buffett. "I don't esteem IBM a similar way that I did six years back when I began purchasing ... I've revalued it to some degree descending," Buffett told CNBC in an interview.