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According to papers filed by the investment firm with the U.S. Securities and Exchange Commission (SEC), Berkshire Hathaway, which is owned by billionaire Warren Buffett, purchased 60 million American depositary receipts of chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) in three months.
Bloomberg estimates the TSMC securities may have cost Buffett $5.1 billion if they were purchased at the average price during the third quarter.
Following the announcement, TSMC shares increased 12.3% to $81.73 per share in the American premarket. The government noted that this is the largest daily increase in over than two years.
Amid declining chip demand and investor worries over oversupply, TSMC shares fell by 28% from the start of the year to Monday, Nov. 14. After selling it for more than $250 billion, Buffett may believe that the stock of the world's largest chipmaker has bottomed out, as evidenced by his purchase.
source: cnbc.com
Bloomberg estimates the TSMC securities may have cost Buffett $5.1 billion if they were purchased at the average price during the third quarter.
Following the announcement, TSMC shares increased 12.3% to $81.73 per share in the American premarket. The government noted that this is the largest daily increase in over than two years.
Amid declining chip demand and investor worries over oversupply, TSMC shares fell by 28% from the start of the year to Monday, Nov. 14. After selling it for more than $250 billion, Buffett may believe that the stock of the world's largest chipmaker has bottomed out, as evidenced by his purchase.
source: cnbc.com
