Warren Buffett Bought This New Dow Jones Stock Last Year and His Successor Recently Increased the Position by 200%. Is It Still a Buy?
This company is one of the early winners of the AI revolution.
Overview
Warren Buffett has done a fantastic job over six decades of selecting winning stocks -- during that time period, this skill helped Berkshire Hathaway outperform the S&P 500. Buffett doesn't buy a stock to get in on short-term momentum but instead commits to players for a number of years. And this long-term strategy clearly has worked.
Buffett retired from his chief executive officer position at the end of the year, though he remains active at Berkshire Hathaway as chairman. And during his last year leading investment decisions, he made a noteworthy move. Buffett made a surprising stock pick, as he chose a player that operates in an industry where he's not heavily present: technology.
Details
And in the first quarter of this year, Buffett's successor, Greg Abel, reinforced the bet on this recent Buffett selection by increasing the position by 200%. Is this stock, which recently entered the Dow Jones Industrial Average, still a buy? Let's find out.
Source
Originally published at www.fool.com.
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