Warren Buffett finally traded in his flip phone for an iPhone

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Buffett said the US economy was "strong, but a little softer" than it was six months ago, and acknowledged that the coronavirus outbreak had affected many of his Berkshire Hathaway Inc.'s businesses.

But Buffett on Monday said that Berkshire would "certainly be more inclined" to buy stocks than on Friday. With Apple's stock closing under $300 on Monday for the first time since January 7th, the decline of $14.87 a share dropped the value of Berkshire Hathaway's Apple shares by $3.42 billion. Even if it is an old phone, one would assume it'll still be an Apple iPhone or probably one of the better phones from the Android ecosystem. "If you look at the present situation, . you get more for your money in stocks than bonds".

Buffett said investors with a 10 - 20-yr time horizon and focused on companies' earnings power will fare well in stocks, and that the outbreak has "not changed" that long-term outlook.

Buffett's company Berkshire Hathaway is one of the top five Apple shareholders with share worth around $23 billion.

Buffett said this can make even "independent" directors resist challenging bad decisions by CEOs, especially in takeovers.

At the luncheon he revealed he had an Apple iPhone 10. Unrealized gains in Apple Inc and other investments boosted Berkshire's net income to a record $81.42bn in 2019. He happened to mention that he's now using an iPhone 11.

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It is being believed that it's a good thing that he shifted to an iPhone from his old-timey flip phone.

Warren Buffet had been using the Samsung flip phone for years.

Buffett's old phone was a Samsung SCH-U320.

Buffett's company, Berkshire Hathaway owns a 5.6% stake in Apple, making it one of the largest shareholders of the Cupertino-based iPhone manufacturer.

Cook said in 2018 he would fly to Omaha, Nebraska, to help Warren Buffett set up his new phone.

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