I dont know where people get this notion that Buffett doesn't understand technology. I am willing to bet he knows more about the economics of technology than most technology investors. That is why he stays away from "pure" technology companies. The earnings cannot be reasonably predicted as far out as Mars, Geico, or WFC.
Every one of his businesses is technology intensive. The insurance industry operates on computer models, detailed climatic analysis that can only be done by supercomputers, etc. BNSF uses the latest in communication, and computing to manage its entire business. Mid-america uses switching systems, sophisticated modelling, solar power, wind power. Need I go on.
Read Snowball. He was using a computer to play bridge at the dawn of the public internet. He was using a cell phone to negotiate the LTCM deal in 1998, before most of us had one. In Lowenstein he was criticized for not bringing out a Cd version of world book encyclopedia. Probably the proper decision, for the wrong reasons given the advent of wikipedia which killed the paid encyclopedia business.
Rest assured he understands technology.
+1
Did you guys ever read this piece by Andreessen?
http://www.businessinsider.com/the-death-of-value-investing-2013-4
His arguments are a misconception of the school of Graham and Dodd. Althought I'd agree with some of his points pertaining to technology, software specifically.