Arab Today, arab today warren buffett buys ibm stake with 107bn
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Warren Buffett buys IBM stake with $10.7bn

Arab Today, arab today

Arab Today, arab today Warren Buffett buys IBM stake with $10.7bn

Washington - Arabstoday

Warren Buffett - one of the world\'s most closely watched investors - has disclosed building a 5.4% stake in IBM.Mr Buffett\'s Berkshire Hathaway fund started buying shares in the firm in March, eventually spending around $10.7bn (£6.7bn).The billionaire had steered away from technology firms in the past.However, he said that he had been impressed by IBM\'s road map for how it planned to attract IT firms outside the US to sign up to its services.\"If you\'re in some country around the world and you\'re developing your IT department you\'re probably going to feel more comfortable with IBM than with many companies,\" he told the US television station CNBC.He said he started buying the stock after he read IBM\'s 2010 annual report and spoke to technology professionals in the businesses his fund had already invested in.He said he realised there was a lot of \"continuity\" in the US-headquartered business.\"It is a big deal for a big company to change auditors, change law firms, or change IT support,\" he said.\"There\'s a fair amount of presumption in many places that if you\'re with IBM, you stay with them.\"Mr Buffett said he had not told IBM\'s chief executive, Sam Palmisano, about the investment before announcing it on TV. He added that he does not plan to increase his stake which was why he was comfortable talking about it.Until now the US bank, State Street, was the biggest known investor in IBM by a clear margin. A September filing revealed the lender owned 5.5% of of the firm.When asked about other investments Mr Buffett noted that he would never buy stock in Microsoft because of his friendship with the company\'s founder and chairman Bill Gates.Mr Buffett\'s actions are closely monitored by other investors because of his track record for spotting and buying undervalued stocks. However, IBM\'s shares only rose slightly after the broadcast.\"He is looking for a business that will have double digit bottom line growth and will be reasonably stable in good times and bad,\" Louis Miscioscia, managing director at financial advisors Collins Stewart, told the BBC.\"That is what IBM shares offer, bearing in mind their software and services business is very consistent.\"IBM said it is not commenting on the news at this time.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today warren buffett buys ibm stake with 107bn Arab Today, arab today warren buffett buys ibm stake with 107bn

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today warren buffett buys ibm stake with 107bn Arab Today, arab today warren buffett buys ibm stake with 107bn

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday