Warren Buffett losing over $1 billion on IBM
Monday, 20 October 2014
Billionaire investor Warren Buffett is on course to lose over $1 billion on IBM shares IBM, -6.89% Monday, after the technology company reported disappointing third-quarter results and said it would transfer its semiconductor operations to Globalfoundries Inc. Buffett's Berkshire Hathaway BRK.B, +1.77% is IBM's largest shareholder, with 70,173,978 shares as of the latest regulator filings, according to FactSet. With IBM's stock down $15.05, or 8.3%, in premarket trade, that translates to a loss of $1,056,118,369 for Buffett. Berkshire's shares were down 0.1% ahead of the open, according to marketwatch.com