Tags: warren buffett | economy | iphone | stocks

Buffett: 'I'm a Broken Record' on US Economy

(CNBC)

By    |   Friday, 05 May 2017 10:26 AM

Warren Buffett, billionaire CEO of Berkshire Hathaway, told CNBC Friday that he hasn't changed his view on the country's economic recovery.

"I'm a broken record on this subject but since the fall of 2009, literally, it's been about 2 percent a year," Buffett said in an interview on "Squawk Box."

The U.S. Commerce Department announced at the end of April that the national gross domestic product rose at an annual rate of 0.7 percent in the first three months of this year, according to CNBC.

"I don't think the figures are necessarily accurate when you get to tenths and all of that," Buffett said, adding that he wouldn't be surprised if that figure were higher. "It's not perfect reporting. Now what I see isn't perfect either obviously."

Buffett also commented on Apple's poor iPhone sales last quarter, saying he doesn't own shares in Apple "because of what I think the earnings are going to be in the next three months or six months," and that "it's very hard to figure out how much people delay their buying of iPhones because of the launch of a new one in six months.”

He added, "I love the fact that they've repurchased shares," referring to Apple's announcement of an additional $35 billion for its buyback program. "If I like buying the stock myself, I like the company buying it. I obviously think that it's a good buy if you can buy your own stock. There is no company you should understand better than your own company."

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Warren Buffett, billionaire CEO of Berkshire Hathaway, told CNBC Friday that he hasn't changed his view on the country's economic recovery."
warren buffett, economy, iphone, stocks
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2017-26-05
Friday, 05 May 2017 10:26 AM
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