BUSINESS

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When one of the world’s greatest investors puts nearly $45 billion into a single stock, people pay attention.Warren Buffett’s Berkshire Hathawayowns 151.6 million shares of American Express,  a 22.1% stake that makes it the third-largest holding in the entire Berkshire portfolio at 14.7%. Only Apple at 18.5% is a larger bet.Valued at a market cap of $203 billion, American Express (AXP) stock is also part of the Dow Jones 30 index. Down 23% from its 52-week high, AXP stock currently offers you a dividend yield of 1.1%. Is Buffett’s favorite financial stock now trading at a bargain?What American Express does American Express isn’t a typical bank. It runs what’s called a “closed-loop” network, meaning it serves as the card issuer, merchant acquirer, and payment processor all at once. That’s a very different model than Visa or Mastercard, which rely on banks to issue their cards.

American Express continues to expand its membership base in 2025Shutterstock-RYO Alexandre

Founded in 1850 and headquartered in New York, American Express operates across four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services. It serves consumers, small businesses, mid-sized companies, and large corporations worldwide.The real engine of its business model is its premium customer base. These aren’t people who are stretching to pay their bills. American Express CFO Christophe Le Caillec recently told attendees at a UBS Financial Services Conference that the company’s delinquency rate has averaged just 1.37% over the past eight quarters. In this period, the delinquency rate also dipped to 1.2%. Put simply, Amex customers spend more, pay their bills, and tend to keep their cards.A growing dividend for AXP stockAccording to data from Fiscal.ai, American Express has raised its annual dividend to $3.28 per share in 2026, up from $0.30 per share in 1996. Over the last 30 years, its annual dividend has grown at an 8.2% rate, which is exceptional for a company in the cyclical lending sector. More Dividend Stocks:One of Warren Buffett’s dividend stocks is key to reopening Strait of HormuzHSBC drops blunt verdict on 150-year-old dividend stockDividend-paying restaurant stock stumbles as gas prices surgeNotably, while several large banks were forced to cut or suspend dividends during the Great Financial Crisis, AXP maintained an annual payout of $0.72 per share. Key dividend metrics for AXP stock Dividend yield: ~1.1% (at ~$295 share price)Annual dividend per share: ~$3.285-year dividend growth rate: ~14% annuallyConsecutive years of dividends paid: 30+Return on equity: 36%American Express retains the vast majority of its earnings. That gives it the flexibility to keep growing the dividend, buy back stock, or make an acquisition: all of which it is actively doing.Buffett is bullish on AXP stockBerkshire’s AXP stake is valued at $45 billion, which indicates it is not a passive bet but a conviction call. And the fundamentals back it up.Card fee revenue has grown at a 17% compound annual growth rate (CAGR) since 2018. The company just refreshed its Platinum Card, its largest and most premium product. Within the first few months after launch, Platinum demand was strong enough to shift the entire mix of new card acquisitions toward higher-fee accounts. The average fee paid per new account jumped noticeably in the fourth quarter of 2025.Travel bookings through the Amex app were up 30% year-over-year in Q4. Spending at Resy restaurants, the dining reservation platform Amex owns, rose 20%. Those are engagement numbers, not just acquisition numbers. They suggest card members aren’t just signing up; they’re using the product deeply.Related: Warren Buffett makes a stunning move with his Berkshire stakeInternational growth is another tailwind. In markets outside the U.S., Gen Z and millennial card member enrollment grew 20% in the fourth quarter. Amex currently holds only about 6% market share across major international markets and isn’t yet at coverage parity with the U.S. That’s a long runway.Is AXP stock undervalued after the pullback?Analysts tracking the blue-chip dividend stock forecast that adjusted earnings per share will expand from $15.38 in 2025 to $24.30 in 2029. If AXP stock is priced at 16.4x forward earnings, which is similar to its 10-year average, it should gain 40% within the next three years, after adjusting for dividend reinvestments. Given consensus price targets, the Warren Buffett dividend stock trades at a 28% discount to consensus estimates. Le Caillec acknowledged the stock’s valuation at the UBS conference but made a simple case: He expectsearnings per share growth in the 9% to 10% range for the coming year, with an eye on continuing to buy back shares.AXP is not cheap, but it’s also not priced like a company with a 36% return on equity, mid-teens earnings growth, and near-zero credit losses.The Platinum refresh tailwind hasn’t fully hit the income statement yet. The company began repricing its existing Platinum cardholder base in January 2026, and that repricing takes 12 months to work through. The full financial impact lands in the fourth quarter of 2026.For long-term dividend investors, a 23% pullback in a business with this kind of earnings quality, along with Buffett’s $44.8 billion endorsement, is at least worth a very close look.Related: Delta Air Lines made $8.2 billion from your credit card last year

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Samsung’s new HBM4memory deal with AMD (AMD) is far more than just about components. It’s an early sign. A warning shot that the chipmaker is looking to push its way into AMD’s lucrative artificial intelligence supply chain.Samsung Electronics may have found a back door into one of the hottest businesses in the stock market.The South Korean tech giant recently inked an amazing agreement. Under the auspices of the deal, Samsung will supply sixth-generation high-bandwidth memory, or HBM4, for Advanced Micro Devices’ next flagship artificial intelligence accelerator system, Reuters reported.On its face, that sounds like a straightforward memory win. But it may be bigger than that.A report from Chosun Biz, cited by SamMobile, says Samsung is trying to turn that HBM4 relationship into something far more valuable: a share of AMD’s advanced chip manufacturing work.If that goes down, it will mark a line in the sand, as AMD (AMD) has long leaned on Taiwan Semiconductor Manufacturing (TSM) for leading-edge logic production.That’s why this story matters to investors.This is not just a supplier footnote buried in the semiconductor weeds. Instead, it’s a possible huge power play in the boom in artificial intelligence hardware, where control over memory, packaging, and manufacturing capacity can determine who gets the next wave of revenue.Why Samsung investors should care:AMD is one of the largest AI names on the stock market.Samsung is looking to transform and become more than just a memory supplier.Any shift in AMD’s supply chain will lead to major implications for a future revenue, margins and competitive positioning.All of this will lead to fresh pressure on TSMC’s dominance in advanced chip production.AMD stock is no stranger to attracting attention. Shares closed at $201.33 on March 20, giving the company a market value of about $258.8 billion.That valuation helps explain why any change around AMD’s AI supply chain will get Wall Street’s attention at a moment’s notice.Samsung may be trying to turn an AI choke point into leverageSamsung’s apparent strategy is simple, and that is what makes it dangerous for rivals.HBM is becoming one of the most crucial cogs inside modern AI accelerators.The faster companies such as AMD try to scale their data-center GPU business, the more they become vulnerable to constrained supply of advanced memory.More Tech Stocks:Morgan Stanley sets jaw-dropping Micron price target after eventNvidia’s China chip problem isn’t what most investors thinkQuantum Computing makes $110 million move nobody saw comingThat gives memory suppliers unusual leverage.AMD’s own numbers give away the magnitude of the opportunity. The company said 2025 was a “defining year,” with record revenue and earnings, and said it entered 2026 with a strong wind behind it, thanks to outsized investments in the data-center AI franchise.That means Samsung is not chasing a side hustle. It may be trying to wedge itself into one of AMD’s highest-stakes growth engines.What makes this financially important for AMD:The need for AI GPUs is growing quickly. AI GPU demand is rising at a rapid clip.HBM supply is necessary to get those products to their destination on time.A second major manufacturing partnership could make the supply chain more flexible.Better visibility of the supply chain could help keep AI’s revenue growth going in the future.And AMD’s customer pipeline is getting only better from here. In February, AMD and Meta announced a multi-year deal, under which Meta plans to deploy up to six gigawatts of AMD Instinct GPUs, with shipments for the first gigawatt deployment slated for the second half of 2026.That kind of scale raises the pressure on AMD.

Samsung is getting primed for a game-changer.Cho/Bloomberg via Getty Images

Why this could be a real financial story for SamsungFor Samsung, it couldn’t be clearer.The company’s memory business is already taking full advantage of the AI boom. Samsung said in its fourth-quarter 2025 earnings reportthat it had record-high quarterly revenue and operating profit. Related: Jensen Huang sends shocking message on Nvidia’s OpenAI stakeIt also said HBM sales grew despite limited supply and that it made more money selling higher-value products such as HBM, server DDR5, and enterprise SSDs.The Device Solutions division posted KRW 44.0 trillion in sales and KRW 16.4 trillion in operating profit in the quarter.But the foundry business does not inspire the same level of confidence. In its second-quarter 2025 earnings materials, Samsung said foundry revenue rose at a very significant pace. But earnings are still low because of changes in the value of inventory caused by U.S. export restrictions on advanced AI chips to China and low use at mature nodes.That is the financial tension at the center of this story.Samsung holds a memory business taking advantage of AI demand and a foundry business that is still on the lookout of a headline-making validation win. AMD could provide exactly that.What Samsung stands to gain:Fresh foundry revenueA better, stronger position in the AI chip supply chainMore trustworthy because of its advanced process technologyA big win with a marquee customer that could help bring in more big clientsA slice of AMD’s advanced manufacturing business will not just boost revenue.It also will give Samsung something just as valuable: proof that a big AI chipmaker is willing to trust its process technology in a market that is still mostly TSMC.That kind of credibility could help Samsung chase more high-margin business later.The real threat is not to AMD; it’s to TSMC’s gripTSMC is still serving as the clear heavyweight. The company has said it continues expanding advanced technology and packaging capacity, including 3-nanometer, 2-nanometer, and CoWoS capacity, across several locations.In other words, TSMC is not standing still.This is not about AMD suddenly cutting ties with its main manufacturing partner, but about Samsung trying to become too strategically useful to ignore.If Samsung can use HBM4 supply to win a small slice of AMD’s logic-chip business, that suggests the rules of competition in AI semiconductors are changing.Why this could matter for Samsung, AMD stocksInvestors might start to see HBM suppliers as more than just component vendors; they might see them as strategic power brokers.AMD could benefit from a lower risk in the supply chain.Samsung could tell a more interesting story about its growth by talking about how its foundries are recovering.TSMC might have to answer new questions about whether its hold on big AI customers is getting weaker.Memory is no longer just a component sale. It’s leverage. And Samsung, after years of foundry frustration, might be readying to use that leverage to attack one of the most prized supply chains in tech.That is the stock angle investors need to worry about.For AMD, any Samsung tie-up could reduce supply chain risk as AI demand starts to heat up. For Samsung, it becomes a path to richer foundry revenue and an enhancement in badly needed prestige. For TSMC, it could be a bad sign that one of its biggest competitors may have finally found a weak spot.Right now, this still looks like an opening, not a done deal.But in a market obsessed with artificial intelligence winners, openings matter a lot. When hundreds of billions of dollars in market value ride on who controls the AI hardware stack, even a “small” supplier shift can turn into a huge story.Related: Micron CEO drops a bombshell after Micron’s huge earnings beat

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