巴菲特“弥补”遗憾，谷歌成为今年最火“科技七巨头”

Core Viewpoint - Berkshire Hathaway has made a significant investment in Google, marking a notable shift in its investment strategy as it prepares for a leadership transition away from Warren Buffett [1][2][3] Investment Strategy - Berkshire Hathaway's cash reserves reached a record high of $381.7 billion, continuing a trend of reducing exposure to U.S. stocks for the 12th consecutive quarter [2] - The company has reduced its holdings in major stocks like Apple and Bank of America while increasing its stake in Google to nearly 18 million shares, making it the 10th largest holding [2][3] - This investment in Google is seen as one of Berkshire's most significant bets in the tech sector in years, surprising many given Buffett's historical hesitance towards high-growth tech companies [2][3] Leadership Transition - The investment in Google is likely influenced by Buffett's two deputies, Todd Combs and Ted Weschler, who are increasingly impacting Berkshire's $300 billion stock portfolio [3] - As Buffett prepares to step down as CEO by the end of the year, this move may reflect a broader shift in the company's investment strategy towards technology [3] Market Position and Valuation - Google's valuation remains lower than many of its AI-driven tech peers, with a projected P/E ratio of 25.5 for next year, compared to Microsoft, Broadcom, and Nvidia [3] - Analysts believe that Google's core business has strong free cash flow potential, making it an attractive investment compared to other tech stocks [4] AI Developments - There is growing optimism on Wall Street regarding Google's AI business, with the company transitioning from being perceived as an "AI loser" to an "AI winner" [5][6] - The upcoming release of Gemini 3.0, Google's next-generation large language model, is highly anticipated and could further enhance its market position in AI [5][6] - Analysts expect Gemini 3.0 to improve capabilities in AI reasoning, multimodal functions, and real-time video understanding, potentially solidifying Alphabet's leadership in generative AI [6]