Warren Buffett is clearly positive about the long-term impact of 5G in America. And the CEO of one of his investments in space says it makes a lot of sense.
‘He [Buffett] see the value of this sector, “Mike Sievert, CEO of T-Mobile, told Yahoo Finance Live. And again, this is something we’re all seen here [investor] this week’s offerings – AT&T, Verizon and T-Mobile have all devised business plans that generate very compelling, valuable and cash flow, and this sector is valuable. ‘
Buffett, the fifth richest person in the world, unveiled new positions in Verizon, Chevron, Marsh & McLennan and EW Scripps in the fourth quarter of 2020, according to a recent 13-F filing with the SEC. Verizon is one of the bigger new bets by the Oracle of Omaha. Buffett picked up 147 million Verizon shares, now valued at about $ 8.22 billion. (Verizon is the parent company of Yahoo Finance.)
The investment in Verizon except that Buffett is increasing its stake in Sievert’s T-Mobile. Buffett now owns 5.2 million shares of T-Mobile worth $ 656 million. It launched its position in T-Mobile in the third quarter of 2020, announcing 2.4 million shares, valued at $ 276 million.
Both recent positions come as the two telecommunications giants – along with AT&T – continue to position the 5G position among smartphone subscribers. The battle was kicked off several gears this week as the telecommunications trio came out with strong long-term forecasts after a rigorous C-Band spectrum auction.
Former Cisco CEO John Chambers says Buffett is on track with the likely bet on the future impact of 5G technology. ‘5G is part of the larger movement of the Internet of Things and digitization as everything moves to the edge [computing], “Chambers, who now runs his VC firm JC2 Ventures, explained on Yahoo Finance Live.
The bouldering is supported by various projections on the impact of 5G.
“Fast, intelligent Internet connectivity enabled by 5G technology is expected to generate approximately $ 20 billion in economic output and 22.3 million jobs in the global 5G value chain alone by 2035,” said World Economic Researchers. Forum written. “It will amount to global economic value in industries of $ 13.2 billion, and production will account for more than a third of production; information and communication, wholesale and retail, public services and construction together will provide a third.”
Get more insight into Buffett’s investment do’s and don’ts here.
Brian Sozzi is a general editor and anchor by Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and so on LinkedIn.
What’s hot about Sozzi:
Watch Yahoo Finance Live Programming Verizon FIOS channel 604, Apple TV, Amazon Fire TV, Roku, Samsung TV, Pluto TV, and Youtube. Start Yahoo Finance Online Twitter, Facebook, Instagram, Flipboard, SmartNews, and LinkedIn.