Buffett’s Berkshire buys billions in HP shares

By Scoop
April 11, 2022 · less than 3 min read

Berkshire Hathaway has become the largest shareholder in the PC and printer making firm.  

Buffett, King Midas  

After last week’s news that Warren Buffett had once again slotted into the top 10 of Forbes’ billionaires list, the unstoppable investment guru is already back at it. If ever there was a man not to rest on his laurels, it’s Buffett; known for his brazen attitude towards investing, seeing him going big on new investments comes as little surprise.  

This time, Berkshire Hathaway has taken on shares in HP. And we’re not talking a few cents – a purchase of nearly 121 million shares was worth around $4.2 billion when the deal went through last week. And of course, the next day, shares of HP closed 14.7% higher, hitting a new 52-week high. Buffett touched it, and it turned to gold.     

Timing is everything 

For much of the pandemic, Berkshire Hathaway was uncharacteristically reserved. But those that call Warren Buffett lucky should remember, luck is where opportunity meets preparation. So, in recent months, opportunities have arisen, and Warren Buffett was prepared.  

Those with vested interests in HP will be rubbing their hands. In recent years, it’s been left in the dust by other tech giants, and prior to Buffett’s investment, its stock had gained less than 50% since 2009.  

Now though, HP sits in good company. With Apple among Berkshire’s other big investments, there will be hope that Buffett’s magic touch will inspire HP to its former greatness.  

Liked This Article?

Get Daily Trending Topics Directly To Your Inbox

Scoop is a free daily newsletter that has the wit, charm, and most importantly, the info you need to start your day