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On Wednesday, Nov. 11, three stocks closely tied to Warren Buffett set records on the same day. Apple (NASDAQ:AAPL) closed at $355.63, Coca-Cola (NYSE:KO) at $97.57 and the Class B shares of Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB) at $588.24.
Berkshire is the link. In its latest 13F filing, covering the end of June, Apple was its largest stock holding, and Coca-Cola its fourth-largest. Both stakes were built during Buffett's decades running the company, and he remains a director after becoming chairman emeritus in September.
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Of the three, Berkshire is the one I'd still buy at its record. It's the cheapest against what it earns, and every Berkshire share comes with a piece of the other two.
Apple stock is up around 31% this year, and Wednesday's close was its 28th record in 2026. The iPhone maker's fiscal 2026 (the year ended Sept. 26) was strong, with earnings per share up 20% to $8.98.
But growth cooled as the year ended. Apple's revenue rose 12% year over year in fiscal Q4, down from 16% in fiscal Q3 and 17% in fiscal Q2. Earnings per share climbed 14% in fiscal Q4, after a 29% jump in fiscal Q3. And the latest number included a $0.05 boost from tariff refunds, so the underlying rise was closer to 11%.
At Wednesday's close, Apple traded at around 40 times its fiscal 2026 earnings and about 38 times analysts' consensus earnings estimate for fiscal 2027. I'd say that's a hefty price for a business whose profit growth just slowed to the low double digits.
Berkshire cut its Apple holding by around 19% in the second half of 2025, to about 228 million shares, and still owned that many at the end of June. These shares would be worth about $81 billion at Wednesday's price.
I'd hold on to Apple. But at around 40 times earnings, it isn't the one I'd add to at a record.
Coca-Cola's close on Wednesday was its 29th record this year, and the stock is up around 40% in 2026.
Coca-Cola's comparable earnings per share (its non-GAAP, or adjusted, profit measure) gained 11% in the third quarter. Management now guides for at least 11% growth this year, which would raise adjusted earnings from $3.00 per share in 2025 to at least $3.33. Sure, around 3 points of that growth come from currency.
At $97.57, though, the stock costs around 29 times the earnings Coca-Cola expects for 2026. That might be too high for a beverage business benefiting from exchange rates. I'd be more interested in a price near $80, or about 24 times 2026 earnings.
Berkshire completed its purchase of 400 million Coca-Cola shares in 1994 and still owned them all at the end of June. The holding would be worth around $39 billion at Wednesday's close.
"When you find a truly wonderful business, stick with it," Buffett wrote to Berkshire shareholders in early 2024, using Coca-Cola and American Express as his examples.
Berkshire's Class B shares are up around 17% this year, well behind Apple and Coca-Cola. Wednesday's close was just its eighth record in 2026, and the stock didn't hit one between May 2025 and Oct. 20.
The stock costs less against its earnings, too. Berkshire's operating earnings (which strip out changes in the value of its stock portfolio) were around $47.2 billion during its last four quarters. That works out to around 27 times operating earnings, and about 1.6 times its Sept. 30 book value (assets minus liabilities).
Yes, third-quarter operating earnings slid around 6% year over year, as insurance underwriting earnings shrank about 43%. But even with that drop, the stock asks less of a buyer than either of the other two.
And Berkshire shareholders own the other two indirectly. Using the June 30 share counts, the Apple and Coca-Cola stakes combined would be worth around $120 billion at Wednesday's prices, or almost 10% of Berkshire's market value.
In the end, these are three great businesses, and I don't see any of the records as a reason to sell.
Apple's growth would probably have to pick up again to justify a multiple of around 40 times earnings, and Coca-Cola is still far above the $80 or so I'd like to pay. Berkshire has the lowest price of the three.
So, Berkshire is the one I'd buy today, but I'd likely add shares gradually. As recently as Sept. 30, the stock traded slightly below its 2025 closing price, and it's climbed about 18% since.
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Daniel Sparks and his clients have positions in Apple and Berkshire Hathaway. The Motley Fool has positions in and recommends Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy.
3 Warren Buffett Stocks Just Closed at Record Highs. Here's the One I'd Still Buy Now. was originally published by The Motley Fool
