This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Buffett Increases Bets on Intel and IBM

Stocks in this article: IBM INTC BRK.B

NEW YORK ( TheStreet) -- Warren Buffett's faith in IBM (IBM) and Intel (INTC) has deepened during the last few months, with the Berkshire Hathaway (BRK.B) CEO raising his stake in both tech bellwethers.

According to Berkshire Hathaway's 13F for the period ending Dec.31, 2011, Buffett increased his IBM position from 57,348,984 shares to 63,905,931 shares, underlining his recent conversion to select tech companies.

Berkshire Hathaway CEO Warren Buffett.

The Oracle of Omaha has typically avoided tech stocks, but revealed last year that he was won over by IBM's 2010 annual report. Buffett also lauded IBM's extensive reach into corporate IT departments, where it sells a vast array of wares.

Widely regarded as one of tech's more dependable stocks, IBM has successfully shifted its focus onto high-margin areas such as software and services, helping it sidestep the recent economic downturn. The company also offers a healthy dividend, which it hiked last year.

In addition to IBM, Buffett also raised his stake in Intel from 9,333,000 shares to 11,495,000 shares, according to the filing.

>>View Warren Buffett's Portfolio

Like IBM, Intel was at the forefront of the recent tech sector revival, with the chipmaker enjoying its most profitable year in 2011.

IBM shares dipped 24 cents, or 0.14%, to $191.95 in extended trading on Tuesday, while Intel shares were flat at $26.78.

Buffett also initiated a position in Liberty Media (LMCA), according to the 13F, with a new stake of 1,701,400 shares.

-- Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs