Buffett goes hi-tech for first time

Guy Clapperton
Picture of Warren Buffett
Picture of Warren Buffett

US magnate Warren Buffett has invested in tech stock for the first time and is now one of the largest investors in IBM, spending $10.7m and acquiring 5.5% of the business through his company Berkshire Hathaway.

You'll note he's avoided buying into anything trendy or indeed valued as worth more than any other tech company in the world (that would be Apple, of course) - so what's changed? Why is it now time to purchase IBM stock?