Biggest investor of Apple, Warren Buffet finally switches to iPhone from a flip phone

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Apple's big an investor, Berkshire Hathaway's CEO Warren Buffet, has finally given in and got rid of his years-old flip phone in exchange with the latest model of iPhone, of course.

"My flip phone is permanently gone. Even my old number has been changed too," he told during an interview with a news channel. He said," I am using the latest model of iPhone but not going to use it to play 'Fortnite' or lazily scroll down and put pictures on Instagram."

"You are looking at an 89-year-old guy who's barely beginning to be with it. I am not using all its facilities as most people do and live their lives around it, I am just going to use it as a phone."

He added that he had been gifted several iPhones over the years, including some from Apple CEO Tim Cook. He was using a Samsung-made flip phone until now when the world has adopted smartphones long back.

"It is probably the best business I know in the world," said Buffet. Adding to that he does not think of it as stock but as Berkshire Hathaway's third business after his completely owned subsidiaries Geico Auto Insurance and BNSF, a railroad company.

Buffet's Berkshire Hathaway held a 5.6% stake in Apple stock worth roughly $US 70 billion according to Securities and Exchange Commission filings and the company's annual shareholder letter which was released on Saturday. The company has been buying shares of Apple since May 2016.

Buffet has favorable views for Apple's smartphone and other products, which he called 'an incredibly useful product to people that becomes more useful as it gets more popular.'
He says, ' Apple is not a technology company, but a consumer product company that uses technology.'

The Apple CEO has tried to convince Buffet to give up his flip phone for an iPhone. "I told him that I will personally come out to Omaha and do tech support to him," said Tim Cook to a TV channel in 2018.

Buffet also teased a clip that will be shown at Berkshire Hathaway's annual meeting in Omaha this may. "It will probably show me crushing my old flip phone with my foot while cozying up to my new smartphone," he said.

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