Warren Buffett’s advice to Apple: Ignore Wall Street noise

Warren Buffett Apple Advice
Warren Buffett Apple Advice

Warren Buffett is a pretty good person to take tips from, and he’s now advising Apple (AAPL) to ignore all of the unsolicited advice it is getting from Wall Street analysts who are panicking about the company’s future growth prospects. Per Barron’s, it seems that Buffett was on CNBC’s Squawk Box this morning and was asked some questions about Apple’s recent troubles with its share price and with investors who are demanding the creation of preferred shares. In response, Buffett bluntly stated that Apple should ignore the outside noise and keep its focus primarily on producing products that deliver value to its customers over the long haul.

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“I would run the business in such a manner as to create the most value over the next five to ten years,” he said. “You can’t run a business to push the stock price up on a daily basis. Berkshire has gone down 50% four times in its history. When that happens, if you’ve got money you buy it. You just keep working on building the value.”

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Buffett’s comments provide a contrast to Street analysts who are pushing Apple to be more reactive when it comes to putting out more products that can help slow the momentum of rival Samsung (005930), which has been on a roll lately with its popular Galaxy S III and Galaxy Note II devices.

This article was originally published on BGR.com