Berkshire Hathaway's 2015 annual report showed the company lost $2.6 billion from its investment in the technology company as of December 31.
"What you pay for a stock doesn't mean anything. What means something is where the company's going to be in five to 10 years," Buffett told CNBC. "I think IBM will be worth more money but, like I said, I could be wrong but we'll accept that."
However, Buffett's comments were "oddly removed from what's going on at IBM," TheStreet's Jim Cramer said this morning on CNBC's "Squawk on the Street."
Cramer said he was waiting for Buffett to say that he has great hopes for the company's cognitive technologies, such as the company's "Watson" product. Buffett also didn't address whether IBM was a growth company, which is a fundamental question about the company, Cramer added.
IBM's daily price chart still shows weakness, TheStreet's chartist Bruce Kamich told Real Money today.
"While Warren may be seeing a turnaround for International Business Machines, I don't see much in the way of bottoming price action in this first chart of IBM," Kamich said. "The first chart shows that despite the company rallying above its 50-day moving average, the slope of the 50-day and 200-day moving averages is still negative."
Additionally, the company announced on Monday that it was buying cyber-security company ResilientSystems. The acquisition will improve IBM's ability to respond to cyber incidents such as data breaches, IBM said in a statement on Monday. The terms of the deal, which is expected to close later this year, were not disclosed.
IBM stock is up by 0.17% to $132.26 in early afternoon trading on Monday.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, unimpressive growth in net income and generally higher debt management risk.
You can view the full analysis from the report here: IBM