∞ Warren Buffett wary of Apple

Billionaire Warren Buffett said he has an aversion to technology companies like Apple, instead favoring companies like Coca-Cola.

[ad#Google Adsense 300×250 in story]Buffet said of Coca-Cola that it’s “very easy for me to come to a conclusion as to what it will look like economically in five or 10 years, and it’s not easy for me to come to a conclusion about Apple,” according to Bloomberg.

Buffet’s largest holdings besides Coke are Wells Fargo and American Express.

In the past decade, Apple has released some of the most sought after products in the consumer electronics market. The iPod, iPhone, iPad, several Mac models and a variety of software applications that have changed the way consumers look at computing. However, Apple’s past success still doesn’t change Buffet’s mind.

“Even though Apple may have the most wonderful future in the world, I’m not capable of bringing any drink to that particular party and evaluating that future,” said Buffett. “I simply look at businesses where I think I have some understanding of what they might look like in five or 10 years.”