Warren Buffett’s Berkshire Hathaway Sells Off 86% Stake in Taiwanese Chip Giant TSMC
Shares in Taiwan Semiconductor Manufacturing Company fell as much as 4% on Wednesday, after Warren Buffett’s Berkshire Hathaway disclosed that it had sold most of its holdings in the chip giant.
In a Tuesday filing with the United States’ Securities and Exchange Commission, Berkshire Hathaway (BRKA) said it had about 8.3 million American depository shares of TSMC worth $618 million, having sold 86% of its shares.
Just months before, in November, the company held about 60 million American depository shares of TSMC worth $4.1 billion, according to an SEC filing.
Berkshire Hathaway did not provide a reason for the sale[war on the horizon?] and did not immediately respond to a CNN request for comment. TSMC had no comment on the share sale.
Shares in TSMC, which accounts for an estimated 90% of the world’s super-advanced computer chips, ended Wednesday more than 3% lower.
Source: CNN
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