Warren Buffett Doesn't Want Apple to Invest in Tesla, Here's Why
Renowned investor and Wall Street legend, Warren Buffett, has weighed in on rumors that Apple may exist thinking about investing in electric car-maker, Tesla Inc. In an interview to Fox Business on Thursday, Buffett, who is the second-largest holder of Apple shares with a stake worth virtually $56 billion, said information technology would a "very poor idea" to enter the auto business.
Co-ordinate to Buffett, "It's not an like shooting fish in a barrel business. Y'all tin win in motorcar one year and lose the next. You lot've got a dozen big companies out there with resources. They're going to keep coming. They're going to copy what yous do". He, however, said he'd support any conclusion is taken by Apple tree CEO, Tim Melt. "I'd support whatsoever Tim Cook does, but I think it'd be a very poor idea to go in the machine business".
During the course of the interview, the Oracle of Omaha, whose investment vehicle, Berkshire Hathaway, earlier this week announced an investment in Indian online payments firm, Paytm, also betrayed a sense of disdain for some of recent antics of the Tesla founder, Elon Musk, who has ofttimes gotten into self-created controversies through ill-conceived tweets and actions.
Taking particular cognizance of the now-infamous "funding secured" tweet which has since gotten Musk into legal troubles with the US Securities and Exchange Commission (SEC), Buffett said that the Tesla founder should have corrected himself immediately later on his misleading tweet. "If yous misspeak, you correct it immediately", he said.
The developments come in the wake of a serial of stunning events that started with Musk tweeting earlier this month that he has secured the necessary funding to accept Tesla private, without giving whatsoever further details. Musk has since clarified his position, proverb that he is no longer seeking to take the company private.
Source: https://beebom.com/warren-buffett-apple-should-not-invest-tesla/
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