When Warren Buffett initially invested in IBM, Berkshire Hathaway bought 64 million shares at an average price of $170 per share, for a total value of $10.7 billion of IBM common stock.
But after years of touting the tech titan as one of his best ideas, Buffett just ditched nearly all of his stake in the company.
As of the end of 2017, Berkshire had owned more than 2 million shares of IBM, after having sold down about 94.5 percent of its once-massive stake.
The short answer as to why he sold it is because he finally saw the value in Apple.
In this video, Buffett talks about the differences between Apple and IBM to him and the mistakes he made on IBM. He also comments on other big tech companies, such as Google and Amazon.
Warning: This video is to show you Buffett’s opinion about big tech companies. Please do your research before doing any investment. A good balance between return and risk is the key to investment success.
Source: Finance Jane (Shared via CC-BY)
