Warren Buffett: Can't Operate His iPhone, Calls Bitcoin 'Rat Poison'

Warren Buffett chairman and CEO of Berkshire Hathaway left plays bridge with Bill Gates outside Berkshire-owned Borsheims jewelry store in Omaha Neb. Sunday

Warren Buffett: Can't Operate His iPhone, Calls Bitcoin 'Rat Poison'

The gap between Apple and other US companies in terms of market cap is equally impressive, with the iPhone-maker now worth over $120 billion more than its nearest tech rivals Amazon ($773B), Microsoft ($732B) and Alphabet ($719B), which are the second, third and fourth in market cap valuations, respectively. I've got some corn and at the end of the period, I've gotten some significant income and I've still got the farm. Buffett suggested over the weekend that he would buy more shares at the right price. As of 2012, Apple repurchased 200 billion U.S. dollars worth of its own stock with announcements of another 100 billion United States dollars. "You buy it because you think it's a good investment over 10-20 years". As might be expected of value investors, they didn't have anything nice to say about bitcoin.

Apple said that customers chose the US$999 iPhone X "more than any other iPhone each week" during the March quarter like they did in the December quarter.

Buffett, chairman and CEO of Berkshire Hathaway, described digital currency as a nonproductive asset while stocks earn money for investors in the markets. And it's an incredible ecosystem that they've found ways to profit more from as they've gone along. I could whisper something on this program about a non-productive asset. If I'm investing in Apple, I want people to think Apple is awful because they're repurchasing shares and it will go up faster. "You can get that and it will feed on itself for a while - and sometimes for a long while - and sometimes to extraordinary numbers".

As if Buffett's tirade were not enough, Munger ripped cryptocurrencies even further.

Analysts say a list of hard-line demands that the Trump administration handed China this week could make it even more hard to resolve a trade conflict between the world's two largest economies.

"I don't think we or anybody else really knows what they're doing when writing cyber" insurance, Buffett said at his firm's annual meeting in Omaha, Nebraska.

But there's another reason Buffett loves Apple besides its tech gadgets: Apple's massive cash hoard, which allows it to buy back a lot of its own stock.

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