Warren Buffett spoke today at The Gatehouse's Hands Up for Success luncheon and Apple's new Services came up. Billions are mostly positive on Apple, but his comments on the company's latest push to new services like original TV content show that he is in doubt about how things can play out.
Reported by CNBC started Buffett with a positive comment, but then noted that things may not go ahead for Apple as it launches Apple TV + and other new services later this year.
"I'd love to see them succeed, but it's a company that can afford a mistake or two," Buffett said when asked about Apple's latest entertainment push. "You don't want to buy shares in the company to do everything right."
He continued, "Apple must do some things that don't work."
While Buffett can see that Apple is trying new things that can fail as a positive, Wall Street cannot agree.
He clarified what he sees as some roadblocks by noticing the fierce competition in the entertainment industry and the uncertainty that Apple is likely to face:
"You've got some very big players to fight over these eyebrows, "Buffett said.
He went on and said that the entertainment industry is full of "very clever people" and does not want to compete in that market. 1
Especially, Apple stock is the biggest investment that Warren Buffett's Berkshire Hathaway holds. Last month, the company reduced its AAPL position, but still holds 250 million shares.
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