Deals
IBM's Stock Slump Defying Buffett's Practice of Buying Lower
- Shares fall below price where purchases by Berkshire started
- Any buying would follow January increase in Phillips 66 stake
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Warren Buffett’s willingness to buy shares of International Business Machines Corp. as their price falls may soon be put to the test.
As the chart below shows, IBM’s stock costs less than it did when Buffett’s Berkshire Hathaway Inc. started building its stake in 2011. The computer-services company slid to its lowest level in more than five years Wednesday in response to a disappointing earnings forecast for 2016.