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Cybersecurity uncharted territory, risks to get worse: Warren Buffett

07 May 2018
Cybersecurity uncharted territory, risks to get worse: Warren Buffett

Warren Buffett has indicated he would be interested in increasing his stake in Apple, as long as shares in the technology giant were available at the right price.

But Buffett says he believe companies with strong and sustainable moats do exist.

"They are not going to find $50 billion or $100 billion acquisitions that they can make at remotely a sensible price", ReCode quoted Buffett as saying at the company's annual meeting held at Omaha city in the USA state of Nebraska.

Warren Buffett was asked at the Berkshire Hathaway annual meeting about the recent trade tensions between the U.S. and China.

"I'm delighted to see them repurchasing shares", Buffett told Berkshire shareholders at the conglomerate's annual meeting.

It came two days after Buffett revealed having bought 75 million additional Apple shares, and four days after Apple said it may buy back $100 billion (roughly Rs. 6.7 lakh crores) of stock.

Berkshire is now Apple's third largest shareholder, behind Vanguard Group and BlackRock.

At the time, the holding was worth more than $28 billion but after the recent share purchase and an 8 percent increase in Apple's stock price, Berkshire's stake is now worth more than $44 billion. I think what Jeff Bezos has done is something close to a miracle ...

Apple developers products that Buffett describes as being "extremely sticky, meaning that customers become attached to these products and in turn support Apple as a company".

In the first quarter of the year, it posted a rare loss - of US$1.14 billion (S$1.52 billion) - according to a statement on Saturday.

"There's a very material risk which did not exist 10 or 15 years ago and will be much more intense as the years go along", he added.

The Oracle of Omaha admits that his investment crystal ball was cloudy on at least two tech companies, Amazon and Google.

That compares to a profit of US$4.07 billion in the same quarter of past year.