Warren Buffett's Berkshire Hathaway Owns This AI Stock, but Will It Disappoint Investors Again?
Warren Buffett is the head of Berkshire Hathaway, which owns shares of around 49 different companies. He has steered the conglomerate to market-beating returns for more than 50 years thanks to his long-term investing strategy.
Buffett likes buying into businesses with great management teams, steady growth, and consistent profitability. It's an added bonus if the company is returning money to shareholders through dividends and stock buybacks. The investing legend usually avoids fast-growing technology companies because they don't tick all of those boxes.
Therefore, it came as a surprise when an investment manager at Berkshire (not Buffett) acquired a position in cloud computing company Snowflake (NYSE: SNOW) prior to its initial public offering in 2020. That position only accounts for 0.3% of Berkshire's $383 billion portfolio today, but Snowflake is losing money hand over fist, and it certainly isn't paying a dividend.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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