"Warren Buffett Is Right To Invest In 5G"

  "Warren Buffett Is Right To Invest In 5G" Former Cisco CEO John Chambers said Warren Buffett was right to invest heavily in 5G. Buffett, the seventh-richest person in the world, began new positions at Verizon, Chevron, Marsh & McLennan and EW Scripps in the fourth quarter of 2020, according to a statement made to the SEC on Tuesday evening. Among the most recent positions added to Berkshire's portfolio, Verizon has become one of the biggest bets. Buffett bought 147 million Verizon shares for $ 8.62 billion. In addition to his new investment in Verizon, Buffet also increased his stake in his rival T-Mobil. Buffett currently owns 5,2 million T-Mobile shares worth $ 706 million. Omaha's Oracle launched its position on T-Mobile in the third quarter of 2020 and announced 2.4 million shares worth $ 276 million. The reason for these transactions is that both telecom giants are making great efforts to deploy high-speed 5G to smartphones. The company still owns 887 million shares, although Buffet reduced its stake in its long-owned Apple by 6 % in the fourth quarter. Former Cisko CEO John Chambers, known to have a keen eye on the economy until now, said Buffett pointed out that "5G technology is the best possible bet investment in the future".  

"Warren Buffett Is Right To Invest In 5G"

  Chambers stated that 5G is an internet access network that can reach energy at the edge in a sustainable and environmentally friendly way, with 500 million devices connected. He said he would also invest in these in the future. Researchers at the World Economic Forum gave the following evaluations in a statement they made: “The fast smart internet connection provided by 5G technology is expected to create approximately $ 3.6 trillion and 22.3 million jobs in economic output by 2035. This will represent more than a third of production, translating into a global economic value across industries. In this context; information and communication, wholesale and retail, public services and construction will form another third, opening up great employment doors.  

Source: Yahoo.Finance

 

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