“The Oracle of Omaha’s moves may be explained by his philosophy of emphasizing a company’s historical financial track record versus putting credence in aggressive future forecasts from analysts,” Kim reports. “‘I think it’s fair to say, we’ve never looked at a [analyst] projection in connection with either a security we’ve bought or a business we’ve bought,’ Buffett said during a Berkshire Hathaway annual shareholder meeting in 1995, according to remarks found using CNBC’s Warren Buffett Archive.”
Apple “generated a $48.35 billion in profit during its fiscal 2017 and made $13.8 billion in net income during the March 2018 quarter,” Kim reports. “In comparison, Amazon’s total net income since inception is about $9.6 billion.”
Read more in the full article here.
MacDailyNews Note: Apple’s P/E ratio is 18.19. Amazon’s is 201.78.
[Thanks to MacDailyNews Reader “James M. Gross” for the heads up.]