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Warren Buffett on outlook for telecom companies

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At the annual Berkshire Hathaway shareholders meeting live streamed on Yahoo Finance, Warren Buffett discusses outlook for Verizon and other tech companies.

Video Transcript

- You recently purchased a large stake in Verizon. For educational purposes, could you please explain your thinking behind this investment? In general, many people see telecoms as dumb pipes that have to spend heavily on Capex, building out the 5G infrastructure only for the other tech companies to take advantage and capture most of the value created from the infrastructure like Facebook, Uber, Airbnb, and DoorDash.

- Well, I think he's analyzed the situation well. But we are not in the business of (LAUGHING) spying on the stock which we either buy more of or sell or who knows what? So he's on his own. But he sounds like he's very capable of thinking it through very well himself.