Warren Buffett’s Berkshire Hathaway Inc. said that unrealized losses on its International Business Machines Corp. stake climbed to $2 billion as of Sept. 30, or about 15 percent of the cost of accumulating the holding.
“IBM continues to be profitable and generate significant cash flows,” Omaha, Nebraska-based Berkshire said in a regulatory filing Friday.
“We currently have no intention of disposing of our investment in IBM common stock. We expect that the fair value of our investment in IBM common stock will recover and ultimately exceed our cost.”