Why you might want to ride Warren Buffett's $5-billion HP play

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Why you might want to ride Warren Buffett's $5-billion HP play
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When Buffett buys, the market listens

And now, by loading up 121 million shares of HP, Berkshire has become its largest shareholder with an 11.4 per cent stake.With a market cap of around US$41 billion, HP isn’t nearly as big as Buffett’s other major tech holding,

In March, HP announced that it would acquire video and voice solutions company Poly in an all-cash transaction valued at US$3.3 billion. The move should accelerate HP’s growth strategy, helping it build a leading portfolio of hybrid work solutions.Article content It’s also buying back its shares: In fiscal Q1, HP spent US$1.5 billion of cash to repurchase approximately 42.6 million shares of common stock.Due to growing investor interest, many tech stocks have rallied significantly in recent years, pushing their valuations to uncomfortably high levels.investment purchasesDespite the multi-year rally in tech, HP has a price-to-earnings ratio of seven.

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