Buffett no longer Intel Inside
Still owns $13bn stake in Big Blue
Warren Buffett, the Oracle of Omaha and one of the world's richest men, has dumped his Intel stock, setting tongues a-wagging around the tech world that he might know something the rest of us don't.
According to a 13F filing with the US Securities and Exchange Commission for Berkshire Hathaway, Buffett's holding company, you can see that as of June 30, Buffett had sold off his 7.75 million shares in Chipzilla before the second quarter ended. At the end of March, when Buffett made a similar 13F filing, those Intel shares were valued at $217.8m.
Buffett has never been a big investor in tech stocks, preferring insurance and financial services companies as well as Coca Cola, Proctor and Gamble, and Wal-mart, among others.
But last year he amassed a 5.5 per cent stake in IBM over a number of quarters, which was worth $10.7bn back in November when he disclosed his large position in Big Blue. In March, he had 64.4 million shares valued at $13.4bn, and at the end of June he had 66.6 million shares. But because IBM's stock was down a bit over those 13 weeks, they were only worth a hair more than $13bn. ®
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