From Nasdaq.: 2024-08-04 07:29:00

The stock market continues to hit new highs with the Nasdaq Composite leading the way, up 22.5% over the last year. Wall Street has concerns about rising interest rates affecting consumer health, but historical data shows now is a great time to invest. Billionaire Warren Buffett’s Berkshire Hathaway has seen massive returns over the years.

Buffett’s top pick is Berkshire Hathaway itself, a company he has reshaped to scoop up quality businesses at fair prices. With a diverse portfolio spanning consumer goods, utilities, energy, and insurance, Berkshire’s businesses generated $37 billion in operating profit in 2023. Buffett has also been buying back shares, indicating he sees value in the stock.

American Express, a favorite of Berkshire, has seen a 50% stock increase in the last year. Revenue grew 9% in the second quarter, with balanced growth in consumer billings and strong performance with Millennials and Gen Z. Wall Street analysts predict 15% annual earnings growth, potentially doubling the share price in five years.

Amazon has been in Berkshire’s portfolio since 2019 and has the strongest retail brand in North America. International expansion and profitable operations have boosted the stock, with analysts expecting 23% annual earnings growth. Amazon’s focus on e-commerce, cloud services, and advertising signal continued growth ahead. Consider diversifying your portfolio with these Buffett-approved stocks for long-term growth.



Read more at Nasdaq.: History Says the Nasdaq Could Soar: 3 Warren Buffett Stocks to Buy Now