HP Inc’s stock soared to a record high on Thursday after billionaire Warren Buffett’s Berkshire Hathaway Inc said it had taken an 11.4 percent stake valued at about $4.2 billion in the maker of personal computers and printers. Berkshire revealed in a Wednesday night regulatory filing that it owned nearly 121 million HP shares, including 11.1 million purchased this week. Shares of HP closed up $5.15, or 14.8 percent, at $40.06, after earlier rising to $41.46. Companies’ stock prices often rise when Berkshire discloses new stakes, regarded as a stamp of approval from Buffett. Berkshire does not regularly invest in technology companies, despite ending 2021 with a $161.2 billion stake in Apple Inc. Buffett considers the iPhone maker more of a consumer company that he can understand. “Berkshire Hathaway is one of the world’s most respected investors and we welcome them as an investor,” HP said in a statement. Separated …
HP Soars 14.8 Percent, Sets Record After Buffett Reveals $4.2 Billion Stake
April 8, 2022
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