“Berkshire Hathaway Chairman Warren Buffett sounded skeptical of Apple’s recent push into the streaming TV business during a talk Thursday at The Gatehouse’s Hands Up for Success luncheon,” Kif Leswing reports for CNBC. “‘I’d love to see them succeed, but that’s a company that can afford a mistake or two,’ Buffett said when asked about Apple’s recent entertainment announcement. ‘You don’t want to buy stock in the company that has to do everything right.’ He continued: ‘Apple should do some things that don’t work.'”
MacDailyNews Take: Yeah, like the butterfly keyboard and Apple TV’s Siri Remote.
“Buffett said that Berkshire Hathaway owns 5.5% of Apple,” Leswing reports. “Buffett’s skepticism around Apple’s TV business is because of the number of hours that viewers spend on content is limited by the number of hours of the day, he said. Plus, there are several large tech and media companies already investing heavily in the space.”
Leswing reports, “‘Ten years from now, when we look at entertainment delivery, it will be what people want. It will be in the form they want,’ Buffett said. ‘It’s going to be a very, very big, hotly contested game, and the one thing I can guarantee is that the public will be the winner.'”
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MacDailyNews Take: Without the price, or lack thereof, the jury’s still out. We will say that the level of talent that Apple have assembled virtually guarantees that viewers will want to partake in Apple’s original content.