"[Buffett] has been very clear, he didn't invest in technology companies and companies he didn't understand. He's been totally clear with that.
"We're in the tech industry," Cook acknowledged. "But we work at that intersection of technology and the liberal arts and the humanities. And so we make products for people, and so the consumer's at the center of what we do."in the March quarter , iPhone revenue, which accounts for more than half of Apple's revenue, fell 17% year-over-year. However, Apple has recently been signaling to investors that iPhone sales are not the critical number to watch. Instead, it's been highlighting revenue from its services — including subscriptions like Apple Music and iCloud as well as products like AirPods and Apple Watch — which grew 16% in the first three months of 2019 compared to a year ago and hit a record.
Buffett's faith in Apple "seemed like recognition" of this continuing evolution, Cook said, while talking about what it means to have Berkshire in Apple's corner. "We run the company for the long term. And so the fact that we've got the ultimate long-term investor in the stock is incredible." The Oracle of Omaha has historically invested in technology sparingly, ending a difficult chapter last year inLast week, Buffett revealed to CNBC that Berkshire has been buying shares of
tim_cook I consumed my first iPhone but Verizon was nice enough to give me another one.
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