Investors soon won’t be able to follow Warren Buffett’s every move in HP stock if the billionaire’s company keeps selling off shares of the printer and computer maker
FILE - Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interview, May 7, 2018, in Omaha, Neb. Investors soon won’t be able to follow Buffett’s every move in HP Inc.’s stock if the billionaire’s company keeps selling off shares of the printer and computer maker. That’s because Berkshire Hathaway is about to drop below 10% ownership of HP after the latest sales of nearly 5 million shares that Buffett’s company disclosed late Monday, Oct. 2, 2023.
Not that long ago, Berkshire owned more than 12% of HP’s stock before it started to trim its stake last month. Now it’s down to 10.2% after several stock sales of the Palo Alto, California, company. Throughout his investment career, Buffett has famously resisted investing in tech companies because he said he couldn’t confidently pick out the long-term winners. But in recent years, Berkshire has bought a massive stake in Apple that ranks as the largest investment in its. Buffett has said he considers Apple a consumer products company with extremely loyal customers, and he can understand that kind of business.
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