If you're looking for possible blue chip stocks to buy, a great place to start is by looking in Berkshire Hathaway's portfolio. Warren Buffett's company includes many safe investments that you can hang on to for not only years, but potentially forever. But despite the long-term safety they may offer, some of his top stocks are struggling this year.

Apple (AAPL -1.14%), American Express (AXP 0.32%), and Occidental Petroleum (OXY -0.66%) are all among Berkshire's top holdings, and these stocks are down at least 5% this year, with a couple of them falling by more than 20%. Here's why you may want to consider buying these stocks on the dip.

Image source: The Motley Fool.

1. Apple

The top holding in Berkshire's portfolio is routinely Apple, which is a company that Buffett has long admired. It has the moat the billionaire investor often seeks, and it has robust financials, with terrific margins and plenty of free cash flow.

Apple recently reported its quarterly numbers for the first three months of the year, with net sales rising steadily by 5% to $95.4 billion. Over the past six months, the business has generated nearly $54 billion in cash from its day-to-day operating activities.

As of Monday, the stock had fallen 20% this year as its fumbled artificial intelligence strategy has some investors worried about its future growth prospects. But for long-term investors, that's likely to be nothing more than a temporary problem for this otherwise outstanding business.

Shares of the iPhone maker are trading at 32 times the company's trailing earnings (as opposed to the multiple of more than 41 that it was at in the beginning of the year). This can be a solid pick for the long haul.

2. American Express

Shares of American Express, which is the second-largest holding in Berkshire's portfolio, have been rallying of late and they're no longer in double-digit losses this year. But entering this week, they were still down more than 5%.

A strong earnings report in April seemed to alleviate concerns about the credit card company's slowing growth. American Express reported a 7% increase in revenue (net of interest expense) while its earnings per share rose by 9%. What was surprising was that the company said its card member spending and credit performance was not only strong, but "in many cases better than what we saw in 2024."

American Express caters to a more affluent customer base, which can make it a safer stock to own amid a downturn in the economy. At a price-to-earnings multiple of less than 20, it's a decently priced Buffett stock to buy right now.

3. Occidental Petroleum

Occidental Petroleum is the seventh-largest holding in Berkshire's portfolio, and it has been struggling this year, declining by 21% thus far. Investors have been dumping oil and gas stocks this year amid lower commodity prices; the SPDR S&P Oil & Gas Exploration & Production ETF has declined by 14% in 2025.

There has been a lot of volatility in Occidental's earnings in recent years and the danger is that may continue to be the case this year, given the uncertainty around tariffs and economic conditions. But that volatility comes with the territory of investing in oil and gas stocks. In each of the past four years, Occidental has generated an operating profit, ranging from as low as $4.7 billion to as high as $13.7 billion.

Buying the stock right now, while it's on the way down, could be a good move if you want exposure to oil and gas. An uptick in the price of oil could quickly swing things in the other direction for the stock. But even if that doesn't happen soon, it can make for a good income investment to hang on to, as it yields 2.4%, which is better than the S&P 500 average of 1.4%.