Warren Buffett, chairman and CEO of Berkshire Hathaway, said that he would not be selling off his IBM Corp shares. This was the decision despite IBM's failure to meet earnings expectations in the previous month.
In an interview with cable television network CNBC, Buffet said," I won't be a seller of IBM." This came right before the annual shareholder meeting of Berkshire Hathaway which begins on May 4 to be held at Omaha, Nebraska.
He added that he did not buy more shares of IBM after the flagging earnings results of the computer maker, leading to an 8% fall in the company's share values in next day trading.
What Buffett said is that he would be purchasing more shares in Big Blue 'from time to time' but he did not purchase nor sold shares during the company's quarterly miss. He added that he may 'have added a little bit' to the shares owned by Berkshire in the company for the first quarter.
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