Warren Buffett says while he would "not be at all surprised" if Apple and Google are worth a "lot more" in ten years, he sees them as too risky for Berkshire to buy shares.
But, he says, "I sure as hell wouldn't short them either."
Buffett and his partner Charlie Munger tells shareholders they simply don't know enough about the companies, their potential competitors, and where technology might be going, for them to see Google and Apple as "inevitable" winners.
They consider Berkshire's recently acquired $13.1 billion stake in IBM as a much safer investment, even though it can also be characterized as a tech company. "The chances of being wrong in IBM are probably less, at least for us, than the chances of going wrong in Google and Apple."
Current Berkshire stock prices:
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