Warren Buffet says he's finally using an Apple iPhone

Posted:
in General Discussion edited February 2020
The 89-year-old billionaire Warren Buffet says that he has switched to the latest iPhone after years of using a $20 flip phone, despite years of investing in Apple and describing it as the best business in the world.

Billionaire investor Warren Buffet has swapped his $20 Samsung flip phone for an iPhone 11
Billionaire investor Warren Buffet has swapped his $20 Samsung flip phone for an iPhone 11


Famed billionaire investor Warren Buffet says that Apple is an "incredible" company that he should have paid attention to sooner. The businessman currently owns around 5.7% of Apple's stock, and describes it as important to his own company, but admits he has only just switched to using an iPhone 11.

"I don't think of Apple as a stock," he told "Squawk Box" on CNBC, "I think of it as our third business. It's probably the best business I know in the world, and that [5.7% ownership] is a bigger commitment than we have in any business except insurance and the railroad."

"[Apple] is an incredible company," he continued. "I should have appreciated it earlier."

Despite rating Apple as a company, Buffet has famously continued to use an old-style flip phone -- until now.

"I'm glad you brought that up," he told CNBC. "I am now using -- not very often -- the latest model. I've been given several of them, including by Tim Cook, [and] my flip phone is permanently gone. I mean, you're looking at an 89-year-old guy that's barely beginning to be with it."

Reportedly, it's an iPhone 11 that Warren Buffet has switched to
Reportedly, it's an iPhone 11 that Warren Buffet has switched to


Buffet joked that he likes his iPhone so much that you may see him crushing his old flip phone, a $20 Samsung SCH-U320. Even so, when pressed about what's best about the iPhone, he admits to not using any smartphone a great deal.

"I don't use all of its facilities," he said. "I mean most people are living their lives around it, and I use it as a phone."
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Comments

  • Reply 1 of 21
    lkrupplkrupp Posts: 9,991member
    I know quite a few people in my age group (70+) who still use flip phones. The funny thing is they are very proud of that fact. They are usually technology averse too, proudly proclaiming they do not have or use a computer, use email, etc. I've always interpreted this position as an expression of fear of technology rather than an aversion to it. These same people were most likely the ones whose VCR displays were flashing in the 1970s. Avoiding what you fear is not exactly the best way to wind your way through life.

    The Oracle of Omaha has always said he doesn't invest in companies whose business he doesn't understand. I guess he finally understands Apple.
    edited February 2020 Anilu_777caladaniancornchippscooter63jony0watto_cobra
  • Reply 2 of 21
    mjtomlinmjtomlin Posts: 2,572member
    If the tool you have is doing the job you need, why change it? I know quite a few people who still use a flip phone... they have no interest in being "connected" 24/7, and don't want to pay for it. I basically only use my iPhone for texting, Apple Pay, taking pics and looking up things when I need to, so I'll probably never upgrade from my iPhone SE (unless we see another smaller sized iPhone). In fact, I just downgrading my plan, going from $60/month to $35, because I was paying for a data limit I never got close to reaching.

    I'm seriously thinking about just getting an Apple Watch instead of another phone. Thinking this next generation will finally go solo?
    edited February 2020 Anilu_777cornchipmuthuk_vanalingam
  • Reply 3 of 21
    crowleycrowley Posts: 10,244member
    lkrupp said:
    Avoiding what you fear is not exactly the best way to wind your way through life.
    If you can succeed at the avoidance, then it sounds eminently sensible to me.
    gatorguyBeatsCloudTalkin
  • Reply 4 of 21
    My parents, both over 80, don’t care about smartphones. My mother has two (a BlackBerry and an iPhone plus an iPad) while my father has a flip phone. They come from a different generation - one that values face-to-face contact and actually doing something with their hands and time, not spending it on social media with people you don’t really know. 
    gatorguycornchip
  • Reply 5 of 21
    Makes sense. I doubt someone his age is spending 18 hours a day on FaceTweetInstaApp crap. And those older flip phones? The battery will last a week or more. If all you need to do is make a phone call, why do you need a $1,000 pocket computer? Generally Buffet is a smart guy, but this was an incredibly dumb move for him to publicize it. Think back a couple weeks to the stories about Jeff Bezos and Saudi Arabia...
  • Reply 6 of 21
    My wife and I are both over 80 and we have had iPhones for years, as well as MBP, iPad Pro, Apple TV, and watches. We text each other across the breakfast table. We are both well educated, which makes a difference with the newer technology. We also have a Tesla Performance. AAPL paid for this and more.
    caladaniancornchipkuduwatto_cobra
  • Reply 7 of 21
    andyring said:
    Makes sense. I doubt someone his age is spending 18 hours a day on FaceTweetInstaApp crap. And those older flip phones? The battery will last a week or more. If all you need to do is make a phone call, why do you need a $1,000 pocket computer? Generally Buffet is a smart guy, but this was an incredibly dumb move for him to publicize it. Think back a couple weeks to the stories about Jeff Bezos and Saudi Arabia...
    To be fair, he did make it clear that hackers aren’t going to find naked pics of him or his girlfriend!
    cornchipFileMakerFellerwatto_cobra
  • Reply 8 of 21
    gatorguygatorguy Posts: 23,395member
    Ephraim said:
    My wife and I are both over 80 and we have had iPhones for years, as well as MBP, iPad Pro, Apple TV, and watches. We text each other across the breakfast table. We are both well educated, which makes a difference with the newer technology. We also have a Tesla Performance. AAPL paid for this and more.
    You text each other across the breakfast table?? I very much enjoy talking to my wife and rarely text unless I'm concerned about interrupting her at work, doctor, or with friends. 80% of the time a 60 second phone call is more effective and insightful than several minutes playing tag (or getting very delayed responses) and still sometimes not knowing for certain the person's mood or whether texts should be taken at face value. 

    We've had more disagreements with family members over misunderstandings from a text when a phone call would have made it all clear as a bell. 
    marklarkjcs2305muthuk_vanalingam
  • Reply 9 of 21
    andyring said:
    Makes sense. I doubt someone his age is spending 18 hours a day on FaceTweetInstaApp crap. And those older flip phones? The battery will last a week or more. If all you need to do is make a phone call, why do you need a $1,000 pocket computer? Generally Buffet is a smart guy, but this was an incredibly dumb move for him to publicize it. Think back a couple weeks to the stories about Jeff Bezos and Saudi Arabia...
    Why is it incredibly dumb? Because Bezos was hacked? A very large number of people in the world, including world and corporate leaders, use iPhones and it's no secret. Should they all switch to flip phones because Bezos was attacked by the crown prince?
    watto_cobra
  • Reply 10 of 21
    I imagine he’s trying to support his massive position in AAPL right now in the wake of some of the steepest stock price drops since 2008, all due to coronavirus panic. Today being especially notable. Ouch!
    edited February 2020 watto_cobra
  • Reply 11 of 21
    BeatsBeats Posts: 3,073member
    I remember him having an iPhone X from this funny video. Apparently he never used it? In the following video the interviewer is sitting with Warren Buffet, Bill Gates and Charlie Munger. The funny part is when she starts asking each of them if they have an iPhone and Bill Gates gets increasingly nervous!



    (I set the video to start at the relevant part)
    edit: Never mind AI forums don't support custom start points but the fun starts at 1:30.
    edited February 2020 SpamSandwichpmasterwatto_cobra
  • Reply 12 of 21
    mike1mike1 Posts: 2,999member
    mjtomlin said:
    If the tool you have is doing the job you need, why change it? I know quite a few people who still use a flip phone... they have no interest in being "connected" 24/7, and don't want to pay for it. I basically only use my iPhone for texting, Apple Pay, taking pics and looking up things when I need to, so I'll probably never upgrade from my iPhone SE (unless we see another smaller sized iPhone). In fact, I just downgrading my plan, going from $60/month to $35, because I was paying for a data limit I never got close to reaching.

    I'm seriously thinking about just getting an Apple Watch instead of another phone. Thinking this next generation will finally go solo?

    Unfortunately, you still can't pair a watch to any car's Bluetooth. That's the only reason I can't leave my phone home sometimes.
    watto_cobra
  • Reply 13 of 21
    apple ][apple ][ Posts: 9,233member
    It's probably the best business I know in the world

    Wise words from Buffet! AAPL is down today along with the rest of the market, but so what, who cares. AAPL will be at all time highs again soon enough. The market is not for cowards and those who trade based on emotions and fear.

    As for phones, my father still uses an old, cheap flip phone, and that's what he'll probably use forever.  I at least have managed to get my mother to use an iPhone, I bought one for her, so she had no choice really, but I think she's glad that she uses one now.
    pmasterFileMakerFellerwatto_cobra
  • Reply 14 of 21
    apple ][ said:
    It's probably the best business I know in the world

    Wise words from Buffet! AAPL is down today along with the rest of the market, but so what, who cares. AAPL will be at all time highs again soon enough. The market is not for cowards and those who trade based on emotions and fear.

    As for phones, my father still uses an old, cheap flip phone, and that's what he'll probably use forever.  I at least have managed to get my mother to use an iPhone, I bought one for her, so she had no choice really, but I think she's glad that she uses one now.
    You're right!

    Like Buffet said...I like more days like these, down than up.  Although I bought some last month, my next purchase will be later in the summer.  In 10+ years, I won't even remember what I paid in January 2020...I'll only regret that I didn't buy enough.  This + MA and V...everytime you look back, it's always, I wished I bought more.
  • Reply 15 of 21
    Well this is nice, but so what? It's totally irrelevant to me what he uses. I also don't care how much he's paying in taxes every year either. Warren Buffet's insight is valuable, but I don't look to him to decide what products to buy and his seal of approval is only mildly interesting.
    watto_cobra
  • Reply 16 of 21
    mjtomlin said:
    I'm seriously thinking about just getting an Apple Watch instead of another phone. Thinking this next generation will finally go solo?
    You'll still need your iPhone, though. No phone company offers a standalone cell plan for Apple Watch.
    watto_cobra
  • Reply 17 of 21
    You need a phone, not necessarily an iPhone. The Apple Watch plan is the same as any plan for a secondary device with the same phone number. You can get a secondary phone with the same phone number for the same monthly rate as the Apple Watch rate. At least with T-Mobile it’s the case. 
    edited February 2020
  • Reply 18 of 21
    I imagine he’s trying to support his massive position in AAPL right now in the wake of some of the steepest stock price drops since 2008, all due to coronavirus panic. Today being especially notable. Ouch!
    Nonsense. Mr Buffet is quite famously strategic in his purchasing. He identifies good businesses, waits for the stock to be cheap enough for him to consider it undervalued, and then buys as much as he deems prudent. If anything, he would be happy for the stock price to drop since it will allow him to buy more. In his estimation, the fundamentals of the business are fantastic - ergo, in the course of ten years or more, he expects the price to be substantially above what the stock is currently selling for.
  • Reply 19 of 21
    Well this is nice, but so what? It's totally irrelevant to me what he uses. I also don't care how much he's paying in taxes every year either. Warren Buffet's insight is valuable, but I don't look to him to decide what products to buy and his seal of approval is only mildly interesting.

    No one is asking you to look to him to decide what products to buy. It is an Apple story, so it was published on an Apple-centric website.
  • Reply 20 of 21
    jcs2305jcs2305 Posts: 1,294member
    gatorguy said:
    Ephraim said:
    My wife and I are both over 80 and we have had iPhones for years, as well as MBP, iPad Pro, Apple TV, and watches. We text each other across the breakfast table. We are both well educated, which makes a difference with the newer technology. We also have a Tesla Performance. AAPL paid for this and more.
    You text each other across the breakfast table?? I very much enjoy talking to my wife and rarely text unless I'm concerned about interrupting her at work, doctor, or with friends. 80% of the time a 60 second phone call is more effective and insightful than several minutes playing tag (or getting very delayed responses) and still sometimes not knowing for certain the person's mood or whether texts should be taken at face value. 

    We've had more disagreements with family members over misunderstandings from a text when a phone call would have made it all clear as a bell. 
    +1

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