When it comes to technology investing, Warren Buffett and his lieutenants have clearly decided to stick with what they know. That doesn’t mean a similar outcome is ensured.
In securities filings late Wednesday, Mr. Buffett’s Berkshire Hathaway disclosed a sizable stake in HP Inc. The famed value investor now owns nearly 121 million shares—amounting to an ownership stake of about 11%—of the once-storied tech giant that makes personal computers and printers. And at least 11 million of those shares were bought after HP announced its deal late last month to acquire video communications gear maker Poly for about $1.7 billion in cash.