My firm has bought 1st Amazon shares, says Buffett

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New York, May 3 (IANS) Berkshire founder and CEO Warren Buffett has said that his firm just bought its first Amazon shares. The news led to Amazon shares surge 2.3 per cent in the pre-market trade on Friday.

According to a CNBC report on Thursday, Buffett said that someone at Berkshire’s asset management desk just invested in some Amazon shares, but “it wasn’t me.”

“One of the fellows in the office that manage money … bought some Amazon,” Buffett was quoted as saying.

The stake in Amazon is a first for the investment conglomerate. Buffett has repeatedly praised Amazon and its CEO Jeff Bezos in the past.

“The truth is that I’ve watched Amazon from the start and I think what Jeff Bezos has done is something close to a miracle, and the problem is if I think something is going to be a miracle I tend not to bet on it,” Buffett said.

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Last year, Berkshire, Amazon and JPMorgan Chase unveiled a joint venture to improve healthcare for their employees.

Berkshire Hathaway owns about 250 million shares of tech giant Apple.

–IANS

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