Warren Buffett’s Berkshire Hathaway may be one of the largest shareholders of the American multinational technology company Apple, but the legendary billionaire investor is far from being an Apple fanboy, and says that Tim Cook has so far been unsuccessful in selling an iPhone to him. “Tim Cook sent me a Christmas card again … saying he’s going to sell me an iPhone this year. He keeps sending me these reminders every Christmas,” Warren Buffett told in a recent interview to CNBC.
Interestingly, the Oracle of Omaha’s Berkshire Hathaway holds $23.37 billion in Apple, but Warren Buffett says that he’s sticking with his Samsung flip phone. However, the ace investor explained that his company consistently added to its holdings of Apple stock. “The market is not yet saturated,” Warren Buffett said, reiterating his bullishness on the company.
Just months after Warren Buffett said that he sees a brighter future in Apple Inc as compared to IBM, the billionaire investor had further reduced stake in IBM by nearly $3 billion in third quarter ending September-17. During the quarter, Berkshire Hathaway also boosted its stake in Apple Inc by 3 percent to 134.1 million shares. In a conversation with CNBC news channel, the billionaire investor had said, “I feel more certain about the future as I look at a company like Apple than when I look at IBM now.”
Warren Buffett had previously voiced a preference to avoid investing in technology stocks, but began building a stake in Apple in 2016. CNBC had earlier reported that the Oracle of Omaha added nearly 76 million more shares in January. The iconic investor had said back then, “Apple strikes me as having quite a sticky product, and an enormously useful product to people that use it.”
But, will Apple’s Tim Cook Actually succeed in selling an iPhone to Warren Buffett? “ “When I actually buy it, it’s all over, folks,” Warren Buffett said. In August-17, Warren Buffett’s bet on Apple has increased the portfolio value of Berkshire Hathaway, by little more than $1 billion in a sigle trading session, after the company had released it’s quarterly earnings report for the third quarter. But he’s was in no mood to cash in on the gains. “I’ve never sold a share,” Buffett told CNBC recently.