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Friday, September 15, 2023

The Oracle of Omaha Hits the "Delete" Button on HP: What's the Deal?

The Oracle of Omaha,
Warren Buffett, has just made a move that's got Wall Street buzzing and your office printer trembling in fear.

So, what's the scoop? Buffett's Berkshire Hathaway has just offloaded a whopping 5.5 million shares of HP Inc., the company that made the printer sitting in your office right now. 

The investment was only made last year, and even after this sale, Berkshire still holds a significant 12% stake in HP. The stock took a little dip, selling for $27.80 in the first trading session after the news broke.

Now, why should you care? Well, when Buffett makes a move, it's like the Pope speaking Latin—people listen. The guy's got a Midas touch when it comes to investments, and many are wondering if this is a sign of things to come for HP and maybe even the tech sector.

Here's where it gets juicy. Buffett has always been a bit tech-shy, famously avoiding the sector because he found it too unpredictable. But times have changed, and he's cozied up to tech, especially with a massive stake in Apple, which he views more as a consumer products company. 

So, is he losing faith in HP, or is this just a strategic trim? Buffett's lips are sealed, as usual.

Last year, Buffett went on a $51 billion shopping spree, picking up stakes in Occidental Petroleum and Chevron, among others. HP was one of the big catches. So, is he having buyer's remorse or is this just another chapter in the Book of Buffett?

While we ponder that, let's not forget that Berkshire Hathaway isn't just about stocks. They own a whole bunch of companies, from Geico to Dairy Queen to See's Candy. So, maybe Buffett's just making room for more ice cream and chocolates?

So, what's your take? Is this the beginning of the end for HP, or is Buffett just playing 4D chess with us mere mortals? Either way, keep an eye on your office printer; it might just be the next thing to go!

For the full lowdown, check out the original article on Yahoo Finance.

1 comment:

  1. The quality and reliability of HP's office products has gone downhill in the past 7 years. Very sad to see it but as a tech with 39 years of experience it is true


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