Will This Buffett Stock Crush the Market in 2023?
Warren Buffett, the CEO of Berkshire Hathaway, has investments spread across a variety of industries. However, he is noticeably light in one sector in particular: software. Maybe it's because he doesn't understand the business (Buffett believes in only buying businesses you can understand), or it could be the premium price tag these stocks usually trade at. Whatever the reason, Buffett's company doesn't have many investments in this field.
However, it does have one notable one: Snowflake (NYSE: SNOW), a data cloud software provider. While Buffett usually shies away from initial public offerings (IPOs), Berkshire Hathaway got in at the pre-IPO price of $120, and the stock promptly spiked to $319 on its first trading day in September 2020. The stock has been on a roller-coaster ride since then but currently sits around $140 after falling nearly 60% this year.
Is 2023 a comeback year for Snowflake? Or is the stock at risk? Let's find out.
Source Fool.com
