Berkshire Hathaway revealed stocks in e-commerce giant Amazon, close to $1 billion. Buffett’s firm owns 4,83,300 shares in Amazon as of March 31. Buffett’s firm has been quite interested in tech companies for investments. It shows shares in Apple worth $48 Billion.
In the recent Annual meetup with its stakeholders, Buffett was asked about the same. To this, he answered that the company is not changing its investing strategy. Though, these Silicon-Valley firms are long awaited to be added into Berkshire’s extensive portfolio. In the very same meetup, Buffett was asked about his successor.
To know more about this “secret successor”, read: Who will succeed Warren Buffet; Berkshire to get a new lead to ‘Path’-away.
Berkshire’s emperor calls himself an idiot
I’ve been a fan (of Amazon CEO Jeff Bezos) and I’ve been an idiot for not buying.
– Warren Buffett to CNBC
One of them bought some Amazon … it is not true to say that I am buying Amazon. It is true to say that Berkshire is what whatever shows up there.
– Oracle of Omaha: Buffett.
After revealing the investment, the Amazon shares in the market have jumped quite high. These shares were marked 2.25% higher at the start of trading to change hands at $1,913.23 each. Amazon has rebounded nearly 15% since shedding more than $40 billion in market value on a single. This was following a weaker-than-expected second-quarter sales forecast on February 1.