Telephone lines were down at Berkshire Hathaway headquarters for several days this week — so CEO Warren Buffett worked from his iPhone.
“I don't know how to do much with it, but I know how to answer the phone,” Buffett, 93, told The Omaha World-Herald Wednesday.
“I'm glad we didn't sell all of our Apple,” he joked.
Buffett has only upgraded to an iPhone Four years ahead having previously used a Flip phone $20.
Buffett said CNBC's Becky Quick in February 2020 that he uses his iPhone “like a phone” and doesn't use “all of his devices like most people.”
Warren Buffett, CEO of Berkshire Hathaway. Photo: Daniel Acker/Bloomberg via Getty Images
The news that Buffett used his iPhone for work calls comes days after Berkshire Hathaway's annual shareholder meeting, in which the conglomerate cut 13% of its shares in Apple, or about 115 million shares.
At Apple on March 28 closing price of $171.48 per share, Berkshire appears to have sold Apple worth about $20 billion.
Apple is still Berkshire and Berkshire's largest holding Remains Apple's single largest shareholder. Berkshire still has 6% of iPad manufacturer or 905 million shares worth about $167 billion, according to Apple Thursday closing price.
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At Saturday's shareholder meeting, Buffett he hinted that Berkshire reduced its stake in Apple for tax reasons. he said he was sure led by Apple CEO Tim Cook, who was in the room in that time.
“We're going to own — unless something really extraordinary happens — we're going to own Apple and American Express and Coca-Cola when Greg takes over this place,” Buffett said, referring to The future CEO of Berkshire Greg Abel.
Apple accounts for a fifth of The Berkshire portfolio. Berkshire's next four largest holdings are Bank of America, American Express, Coca-Cola and Chevron.
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