Buffet says he loves Apple due to its brand power and ecosystem, not its short-term results.
Buffett: “I do not focus on the sales in the next quarter or the next year. I Focus on the … hundreds, hundreds, hundreds, millions of people who practically live their lives by it.”
That's why I don't get stressed about short-term results as long as I trust the management, there is a moat and there is potential for future growth.
A lumpy 15% > regular/massaged 12%
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett