Worried About the Tech Sell-Off? This Warren Buffett Stock Provides the Ultimate Protection
The technology sell-off has been making headlines of late, as it should. After all, the Nasdaq Composite has slumped 32% year to date, thanks to a broad range of macroeconomic headwinds like soaring inflation and increased borrowing costs.
Not all companies have been adversely affected by today's economic climate, however. Even as investors have cast aside the technology sector for now, they have transitioned to safer, high-dividend value stocks. This shift has benefited many of the stocks in the great Warren Buffett's investment portfolio. Buffett, who is famous for his value investing strategy, typically favors companies with cheap valuations, robust dividend yields, and wide economic moats.
Given today's insecure economic environment, it wouldn't be unwise to consider following Buffett's lead. Let's examine one of Warren Buffett's all-time favorite stocks and why investors may want to purchase shares today.
Source Fool.com