Alphabet
shares jumped Monday after Warren Buffett’s Berkshire Hathaway
revealed a new stake in the Google parent, marking one of the conglomerate’s most significant technology bets in years.
Alphabet shares were up nearly 4% in premarket trading, bucking some weakness in most technology shares to start the week.
A quarterly 13F filing showed Berkshire owned roughly $4.3 billion worth of Alphabet as of Sept. 30, making it the firm’s 10th largest equity holding. The move surprised many Buffett watchers given the billionaire’s decades-long hesitation toward high-growth tech companies. Buffett has always seen Apple, Berkshire’s largest holding, as a consumer products company.
