Warren Buffet was recently quoted as saying during Berkshire Hathaway’s annual meeting that he has no intentions of buying either Apple of Google stock saying saying they are too hard to predict long term.
“We couldn’t predict what would happen to Apple 10 years ago and we can’t predict what will happen to it 10 years from now,” Buffett said.
Buffent wen on to say that he does not see either being "inevistable" winners, but said that is part because he does not know enough about them.
Both Apple and Google could soon join the Dow Jones Industrial Average stock index, and both have market values around $600 per share. Apple is trading at $564.92 and Google was at $603.36 as of noon today.
Buffets declaration may be seen by many investors as a guide and could opt to put their money elsewhere driving down shares of Apple and Google. However, Buffet's statement was meant for long term holdings, and this may have no effect on day traders and short term traders.
Clarifying his statement, Buffet added, “I sure as hell wouldn’t short them either.”