Abel’s Bet on American Express | Business and Finance News

Greg Abel, Berkshire Hathaway’s new CEO, is doubling down on long-term bets like American Express, Apple, Coca-Cola, and Moody’s—seeing them as growth engines for decades to come. Despite a recent earnings miss, American Express is actually firing on all cylinders: revenue is set to surge 10% this year, fueled by more customers and higher spending, the fastest growth in card usage in three years. Their loyal, affluent user base spends on discretionary goods, making them resilient to inflation. The business thrives on a triple win: customers get rewards, merchants get sales, and AmEx profits from both fees and merchant revenue. Even amid a post-earnings sell-off, the stock remains attractively valued, and the company continues buying back shares and boosting dividends—solidifying its role as a cornerstone of Berkshire’s future. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/815ab134b72f7778