Warren Buffett: Should Apple Buy in Their Shares?

Warren Buffett: I can't give you a formulaic approach because I don't use one. And I just mix all the factors and if the gap between value and prices, not attractive, I go on to something else. For instance, when Costco was selling it about 12 or 13 times earnings, I thought that was a ridiculously low value. This is the longest we've ever gone in the Berkshire meeting without Charlie saying that getting to the point where he prefers Costco to Berkshire. But Apple has an incredible consumer product which you understand a lot better than I do.