Warren Buffett's investment strategy in Apple stock is reflected in Rob Gronkowski's $69,000 bet on the company.

In 2014, Rob Gronkowski, a future hall-of-fame tight end, purchased $69,000 worth of Apple stock based on the advice of a contractor working on his home in Foxborough, Massachusetts, according to Fortune.

"Gronkowski stated that he had never been involved in stocks and did not understand how they worked. As a result, he decided to try his hand at investing in stocks."

Gronk claims his Apple stock is now worth over $600,000 after selling some shares.

Gronk's success can be seen as a result of dumb luck, but if you examine the process, it resembles the trade of another well-known investor, Warren Buffett.

Why Gronk's strategy is Buffett-like

Is it possible that the chairman of Berkshire Hathaway would invest in a company without conducting thorough research, even if it were recommended by a contractor? Highly unlikely. However, Berkshire's $31 billion investment in Apple stock in 2016 was not Buffett's idea. Instead, it was approved by Buffett on the advice of his lieutenant, Ted Weschler.

Both Gronk and Buffett acknowledged that Apple had become a ubiquitous company with a product, the iPhone, that inspired enormous customer loyalty. This is a quality that Buffett has consistently praised.

"According to Buffett, consumers are willing to pay a high price for iPhones, which is comparable to the cost of a second car. If they had to choose between giving up their second car or their iPhone, they would choose to give up their second car."

In 2014, Gronk may not have been thinking deeply about Apple's business, but he likely recognized its strong brand position in the industry.

Buffett is widely regarded as one of the greatest investors of all time, while Gronk has a tendency to be absent-minded. As a result, after making an investment in Apple, he forgot about it for two and a half years. By the time he remembered where he'd put his money, his investment had grown to over $250,000.

Buffett-like behavior is not recommended for everyday investors, but it's not far from the Oracle of Omaha's advice to hold individual stocks over long periods without paying attention to their day-to-day movements.

"Buffett advised at the 2020 Berkshire meeting that one should not purchase stocks unless they are prepared to hold them for an extended period and are financially and psychologically prepared to maintain that stance, similar to holding a farm, and not to constantly monitor stock quotes."

Buffett argues that focusing on the short-term fluctuations of a stock can lead to emotional decision-making. Instead, he suggests investing in a great company for the long term.

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