Warren Buffett has led Berkshire Hathaway to market-beating returns since 1965. Buffett uses a simple investing strategy, and he never chases hot stock market trends like artificial intelligence (AI).

Two hot stocks in this sector are Palantir Technologies (NASDAQ: PLTR) and SoundHound AI (NASDAQ: SOUN). Palantir's shares had surged by more than 300% over the prior 12 months, while SoundHound had skyrocketed by 600%.

Stock splits, which occur when a company divides its existing shares into multiple shares, effectively increasing the outstanding shares while maintaining the same market capitalization, have been all the rage on Wall Street over the past few years,