Warren & Ward Buffett's Berkshire Hathaway has cleared IBM's stock and ended this difficult chapter.
In an interview broadcast on CNBC on Friday, the reporter asked Buffett whether Berkshire still holds any IBM stock.
This stock God said: "No, I think we have cleared it." The answer is almost certain, yes, Berkshire no longer holds IBM stocks. ”
According to statistics, Berkshire held more than 2 million IBM stocks by the end of 2017. Previously, the company had already sold about 94.5% of IBM's holdings.
IBM is one of Buffett's few stocks. In the early years of his investment career, Buffett did not have any intersection with technology stocks. But before investing in Apple, his only investment in technology stocks in his later years required him to stand up and stand up to his own investment.
It is reported that Berkshire Hathaway announced in 2011 that it had begun to build IBM, and became the company's largest shareholder. Buffett listed several reasons for investing in the company when he invested in IBM. One is management skills; the second is the company's ability to achieve five-year goals. However, in fact, IBM failed to achieve its five-year goals.
When buying IBM's shares, Buffett emphasized that investing in IBM's billion-dollar investment is a long-term investment in the transformation of the company. Like other mature technology companies, under the leadership of CEO Virginia M. Rometty, IBM is trying to adapt to the transformation of the technology industry from PC to mobile and cloud computing.
However, IBM's transformation has not improved the company's performance. This resulted in Berkshire having a set of five years until the early 2017. However, it didn't last long, and IBM's stock price began to fall again. This made Buffett lose confidence in IBM.
In May last year, Buffett said that Berkshire had already sold a third of IBM’s stock in the first and second quarters.
In February of this year, Berkshire disclosed in a document that it reduced its holdings of IBM stocks by 35 million shares to 2 million shares in the fourth quarter of last year. Today, Berkshire has finally completely cleared IBM, flesh out.