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Billionaire Warren Buffett told why invested in Apple and have sold IBM stock

Billionaire Warren Buffett has declared, that regrets that has not acquired more shares of IT companies when he had the chance. At the annual meeting of shareholders led by investment company Berkshire Hathaway businessman explained why Apple thinks a promising company and doubt the bright future of IBM.

As at the end of 2016, Buffett owned about 81 million shares of IBM, which is 8.5%. However, in the first and second quarters of 2017 he sold almost a third of its package. “I don’t appreciate IBM same as 6 years ago, when I started to buy their paper … Now I rate them lower,” — said the billionaire. Buffett added that technological Corporation did not meet his expectations and not doing what he expected when he bought the securities of the company six years ago.

Buffett said that could buy Google stock for more than ten years ago, right after the company held an IPO, but didn’t want to do that. Vice-President of Berkshire Hathaway’s Charles Munger called the refusal from the purchase of shares of Google worst decision for the company in the field of high technologies. “I would say that we’ve failed you,— quotes the edition Fortune.— We were smart enough to do it, but did not”.

At the same time, the investor continues to invest millions in Apple. Explaining his decision to invest in “Apple” giant, Warren Buffett has told that sees in it not so much a technological the company, but a manufacturer of consumer goods. This, in his opinion, distinguishes Apple from IBM.

Buffett also criticized the U.S. President proposed Donald trump tax reform. According to him, Federal taxes on its income fall by 17%. “This is a huge tax cut for the guys like me,” said 86-year-old billionaire, who has long supported the Democratic party of the United States.

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