June 25, 2024

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2 Spectacular Warren Buffett Stocks That are No-Brainer Buys for 2024 (and Beyond)

2 min read

Berkshire Hathaway CEO Warren Buffett has scored incredible investing wins over the years by picking great businesses with powerful competitive advantages. To put the Oracle of Omaha’s track record in perspective, if you bought $1,000 worth of Berkshire shares when Buffett purchased a controlling stake in the business and became its CEO in May 1965, you would today own stock worth roughly $34.3 million.

Of course, Berkshire’s current massive size makes it unlikely that its stock will deliver a performance like that again any time this century. With a market capitalization of $889 billion, it ranks as the world’s eighth-most-valuable company. Delivering exponential growth becomes far more difficult at that level.

But taking some pages out of Buffett’s investing playbook can still be a great way to score market-beating returns, and two Motley Fool contributors think following the Oracle of Omaha’s lead on these two stocks below would be a great way to strengthen your portfolio.

Warren Buffett.

Image source: The Motley Fool.

The AI revolution will power big wins for Amazon

Keith Noonan: Amazon (NASDAQ: AMZN) is the world’s largest online retail company. It’s also the leading provider of cloud infrastructure services.

Though it accounts for the large majority of the company’s revenues, Amazon’s e-commerce business actually does not account for most of its profits. Because of its high operating costs, the online retail unit generates relatively low profit margins. Its Amazon Web Services (AWS) cloud business is far more profitable, bringing in roughly 67% of the company’s $36.9 billion in operating income last year.

But as Amazon continues to leverage economies of scale and takes advantage of new technologies, it should be able to achieve far better margins from its e-commerce business. Notably, wider use of artificial intelligence (AI) should provide an incredible performance catalyst for the already hugely successful company.

AI will likely pave the way for increased automation at the…

2024-03-02 10:30:00

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