 "IBM")
International Business Machines has climbed above the price that Warren Buffett paid for shares in the computer company, reversing more than $2 billion in paper losses for his Berkshire Hathaway.
IBM rose 2.2 per cent to $170.55 at 4 pm Friday in New York after giving 2017 profit guidance on Thursday that was higher than analysts’ estimates. That compares with the average of $170.19 that Buffett spent for 81 million shares, according to Omaha, Nebraska-based Berkshire’s most recent annual report.
IBM has outperformed so-called momentum tech stocks such as Amazon.com and Facebook after Donald Trump’s election win as investors shifted to companies
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