Investment structure Berkshire Hathaway Inc., founded by billionaire Warren Buffett (Warren Buffett), in particular, sympathy for the assets of computer manufacturers was not noticeable, although it owns a stake in Apple. Against this background, the purchase of 121 million shares of HP Inc. immediately contributed to the growth of its market value by 9.9%.
As I said at the moment Reuterswhich is part of Buffett’s structures, a stake in HP Inc.’s capital reaches 9.9%, and its market value is equivalent to $4.2 billion. Wednesday’s trading ended the company’s shares at $34.91 a share, but after The news of an increase in Berkshire Hathaway stock rose to $38.38.
This is the fund’s third major asset purchase since February 26. In March, he invested in insurance company Alleghany Corp. of $11.6 billion and also gave up ownership of a 14.6 percent interest in energy company Occidental Petroleum Corp. totaling more than $6 billion. Prior to these moves, Berkshire Hathaway had not made any major purchases for about six years and had accumulated about $146.7 billion in cash and other highly liquid equivalents. The minimum amount of cash the fund wants to keep after investing in various assets is $30 billion.
It’s easy to explain investors’ enthusiasm for HP Inc.’s growth after disclosure of the fact that Buffett’s structures had bought a large stake. Many analysts in recent weeks have expressed doubts about the PC market’s ability to at least hold last year’s numbers through year-end, and sales are increasingly forecast to fall by 6% to 10%. If, under such conditions, a large investor sees prospects in the assets of a PC manufacturer, then this stimulates the appearance of like-minded people.