Berkshire Hathaway Just Poured Billions Into One Stock. Here’s Why.
Warren Buffett missed out on buying this tech giant early, but Berkshire is making up for lost time.
Overview
Warren Buffett avoided technology stocks for most of his career, until he built Apple (NASDAQ:AAPL) into Berkshire Hathaway's (NYSE:BRKA)(NYSE:BRKB) largest holding. Now that Buffett has stepped down, new CEO Greg Abel appears to be forming a second major tech holding. According to Berkshire's latest SEC filings, Google parent company Alphabet (NASDAQ:GOOGL)(NASDAQ:GOOG) is now the fourth-largest position in the portfolio, with a stake worth more than $28 billion.
To be sure, we don't know exactly why Greg Abel has been building the Alphabet position, although we know Buffett played an active role in the decision. But here's what investors need to know, and some of the qualities Alphabet has that Buffett loves to see.
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Originally published at www.fool.com.