This might be Warren Buffett's new favorite stock

Group 1 - Apple has been a significant holding in Warren Buffett's portfolio, but its share has decreased from about 50% to approximately 40%, resulting in a loss of over $4 billion in potential gains [1] - Occidental Petroleum is emerging as a major holding for Buffett, with his stake increasing to just under 29% as of June 2024, following a 9-day buying spree [2] - The partnership between Occidental and Berkshire Hathaway focused on lithium mining is a key factor in Buffett's increased investment, as lithium is essential for electric vehicle battery production [2] Group 2 - Occidental Petroleum's stock price has shown limited strength in the first half of 2024, currently at approximately $61.26, which is over 11% below its yearly high of above $69 [3] - Despite the stock's recent downturn, analysts maintain a bullish outlook, with an average 12-month price target of $72.59 and some predictions suggesting a potential rise to $90 [3][4] - The bullish sentiment is attributed to the company's lithium mining plans and the recent stock price decline, which may present a buying opportunity [4]