The American star investor Warren Buffett used the falling prices on the stock exchanges in the past quarter for acquisitions and has invested in chip manufacturer TSMC from Taiwan, among others. With his investment fund Berkshire Hathaway, he invested several billion dollars in the stock market, according to a report to the US Securities and Exchange Commission.
While the 92-year-old reduced other investments, mainly in the financial sector, from July to September, he made a big commitment to the tech industry: Berkshire took advantage of the fall of the world’s largest chip maker TSMC and acquired about 60 million US certificates of the Taiwan-based group. Assuming the papers had been bought at the average price, the participation would have cost about $5.1 billion (4.9 billion euros).
This is what it looks like in a TSMC factory:
TSMC share increased
News of Buffett’s entry sent a boost to the TSMC papers, as the move is taken by observers as an indication that investor legend is seeing the bottom in the TSMC paper after the sell-off. Buffett has long stayed away from the tech industry, true to his credo of not investing in companies he doesn’t understand. However, this attitude has changed in recent years and the share of its investments in the technology sector has grown. The iPhone manufacturer Apple has remained its most valuable individual holding company to this day, so now its exclusive supplier TSMC has also been added. Berkshire owns nearly 6 percent of Apple’s stock, which is worth about $140 billion.
In addition to TMSC, Buffett’s company also bought US bank Jefferies and building materials producer Louisiana-Pacific Corp. last quarter. At the same time, he increased his stake in the oil company Occidental Petroleum, of which he now owns nearly a third. In return, Berkshire reduced exposure to financial institutions by approximately $4.7 billion. For example, interests in US financial firms Bancorp and BNY Mellon were reduced during the period.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
