Warren Buffett's Legacy Stocks: Which Ones Still Deliver Value in 2026?

The transition of Berkshire Hathaway from Warren Buffett's six-decade stewardship to Greg Abel's leadership has sparked intense scrutiny over the conglomerate's portfolio. As investors grapple with questions about the future of Buffett's iconic holdings, a critical task remains: evaluating whether these stocks still align with long-term buy-and-hold strategies in 2026. This analysis examines Berkshire's top five equity holdings-Apple, American Express, Bank of America, Coca-Cola, and Chevron-through the lens of recent financial performance, analyst ratings, and sector dynamics.

Apple (AAPL): A Tech Titan, But Is the Magic Fading?

Apple remains Berkshire's largest holding, accounting for 22.69% of its portfolio as of September 30, 2025. The company's fiscal 2025 results were robust, with revenue hitting $416.2 billion and net income reaching $112 billion, driven by iPhone sales and a thriving Services division. However, Berkshire has reduced its stake in Apple, signaling a strategic pivot toward AI-focused investments like Alphabet. Analysts remain divided: Morgan Stanley upgraded Apple to "overweight" with a $315 price target, while Raymond James maintained a "Market Perform" rating, citing limited upside at current valuations. The Services segment, which grew to $28.8 billion in Q4 2025, offers a durable cash flow engine, but challenges in China and competition from rivals like Samsung could temper growth. For long-term investors, Apple's ecosystem of 2.35 billion active devices and AI integration (e.g., Apple Intelligence) suggest resilience, though its valuation may require patience.

American Express (AXP): A Pillar of Stability in a Volatile World

American Express, a 18.84% component of Berkshire's portfolio, has long been a favorite of Buffett's for its high-margin payments business. As of January 2026, 19 analysts have assigned a "Buy" rating to AXP, with a consensus price target of $335.21. The company's global integration and premium credit card offerings position it well in a low-interest-rate environment, where spending is likely to rebound. However, macroeconomic headwinds, such as inflation and consumer debt levels, could pressure transaction volumes. American Express's focus on small business and international expansion-particularly in Asia-adds a layer of diversification that aligns with Buffett's preference for durable franchises.

Bank of America (BAC): A Financial Sector Anchor

Bank of America, representing 10.96% of Berkshire's portfolio, has shown strong momentum in 2026, with Q3 revenue reaching $28.1 billion and net income of $8.5 billion according to recent reports. The bank's consumer banking segment reported 27 consecutive quarters of net account growth, a testament to its competitive pricing and digital innovation. Analysts project 14% earnings growth for 2026, with a median price target of $59.25. However, the stock is currently rated "Hold" by some analysts, as its valuation already reflects strong operational efficiency. For Berkshire, BAC's low-cost deposit base and expanding wealth management arm provide a stable cash flow stream, though regulatory risks and interest rate volatility remain concerns.

Coca-Cola (KO): The Timeless Consumer Staple

Coca-Cola, a 9.92% holding in Berkshire's portfolio, continues to benefit from its global brand dominance and dividend reliability. In 2026, 12 analysts have assigned a "Buy" rating to KO, with Bank of America setting a $80 price target (14% upside). TD Cowen highlighted Coca-Cola's potential for 5% organic sales growth and 8% EPS growth, driven by international markets and premium product lines. The beverage giant's shift toward healthier options and sustainability initiatives also align with long-term consumer trends. However, its exposure to commodity prices and regulatory scrutiny in emerging markets could pose risks.