Omaha Warren Buffett said on Saturday he would not buy shares of Apple or Google but would not sell them short, and said International Business Machines (IBM) is a better investment for Berkshire Hathaway.
"I would not be at all surprised to see them be worth a lot more money 10 years from now but I would not buy either one of them," Buffett said about Apple and Google at Berkshire's annual shareholder meeting in Omaha, Nebraska. "I sure as hell wouldn't short them either." In contrast, Berkshire at year end owned $11.8 billion of IBM stock, its second-largest stock holding.
"The chances of being way wrong in IBM are probably less, at least for us, than the chances of being way wrong in Google or Apple," said Buffett. Buffett's revelation in November that he bought IBM stock surprised many investors, as he is usually averse to tech stocks.
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