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Home / Business / Buffett on Apple's services: "Not a simple game to predict & # 39;

Buffett on Apple's services: "Not a simple game to predict & # 39;



A few days after Apple had organized an extensive event to uncover its streaming television and news subscription services plans, Warren Buffett offered less than a rousing endorsement for the unit manufacturer's plans to build up the revenue stream through such deals. [19659002] Buffett said the market for streaming video subscriptions, where Apple faces entertainment giants such as Disney and Netflix, is "not an easy game to predict, because you have very clever people with lots of resources trying to figure out how to another half an hour of your time. I wouldn't want to play in that game though. "

When the interviewer, CNBC's Becky Quick, pointed out that Berkshire Hathaway's investment in Apple, currently worth around $ 47 billion, means Berkshire In fact, playing in this market, Buffett indicated a patience towards Apple's move to a market that ultimately cannot stand out.

"Apple I would love to see them succeed. It's a company that can afford a mistake or two. You won't buy shares in a company that has to do everything right," Buffett said. but you won't make them too big a part of your capital … Apple should do some things that don't work. "

Buffett's Berkshire Hathaway owned 250 million shares of Apple at the end of 2018, or about 5.7% in the Silicon Valley giant, the company sold about 3 million shares in Apple last year, when it and other big names tech stocks tumbled, Buffetts net worth is estimated at around $ 83 billion, according to Forbes .

Buffett also expressed a reluctance to jump into the market economy market at a time when big-name tech companies such as Lyft, Uber and Pinterest are preparing to be public, while confirming he missed buying tech giants like Amazon when they became public, Buffett believes that the risk is too large, not b Are for Berkshire, but for the average investor too. The last time his company bought shares in an IPO was in 1955.

"Buying new offers in hot periods on the market is not something the average person should think of at all," Buffett said. "You can go around doing stupid games and still winning. It's not something you want to take as a lifetime model. You just want to make sure you're on the side of the house when you bet, instead of betting on the house." 19659003] During the interview, Buffett answered questions with a humble, deleted sense of humor. When Quick asked if he planned to see Apple apps on the iPad, Buffett took out a flip phone, which was popular over ten years ago.

"Alexander Graham Bell lent it to me and I forgot to return it," 88-year-old Buffett joked.


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