Warren Buffett is one of the most successful investors on Wall Street. The Berkshire Hathaway CEO's strategy of having his company buy and hold stock in solid companies for a long time has reaped rich rewards over the years, which is evident from the terrific annual gains in Berkshire's Class A shares since 1965. Berkshire's Class A shares have clocked average annual gains of 20.1% over the past 57 years.

That outperformance is why investors may want to take a page out of the Oracle of Omaha's playbook and consider buying stock in some Berkshire-held potential long-term winners themselves. Apple (AAPL -2.11%) and Snowflake (SNOW -5.36%) are two such names that investors with $300 to spare might want to consider buying right now.

If you have paid off your high-interest debt, have enough money saved for emergencies, and have $300 to spare, you have enough to buy one share each of these two top Buffett stocks that are trading at relatively attractive multiples. Let's look at the reasons why.

1. Apple

Apple is Berkshire Hathaway's top holding, accounting for 39% of the company's portfolio. The technology giant hasn't been immune to the stock market sell-off of 2022, as it has lost roughly 16% of its value this year. Apple's decline, however, means that investors can buy it at a nice discount right now. It is trading at 24 times trailing earnings, compared to 31 times trailing earnings in 2021. 

There are a few solid reasons why investors should consider buying Buffett's top bet right now, apart from its valuation.

The first reason is that Apple's dominance of the 5G smartphone market is going to be a huge tailwind in the long run. The company reportedly controls nearly 30% of the global 5G smartphone market and enjoys a nice lead over second-placed Samsung, which has a 19% market share. It is worth noting that Apple has sustained its 5G dominance in 2022, finishing 2021 with a 31% share of 5G smartphones.

With 5G smartphone sales expected to generate nearly $747 billion in annual revenue by 2028, Apple's iPhone revenue could get a big boost in the long run. What's more, global smartphone revenue is expected to increase from $508 billion last year to nearly $790 billion in 2028. With Apple estimated to remain among the top two smartphone suppliers over the next five years, along with Samsung, its biggest source of revenue -- the iPhone -- should continue driving the company's growth.

The second reason to be upbeat about Apple's long-term growth is its services business. The segment's revenue was up 14% year over year in fiscal 2022 (which ended on Sept. 24) to $78 billion. The services business is expected to sustain its momentum in the future thanks to a huge installed base of 2 billion devices and the growing adoption of the company's music and service offerings. For instance, JPMorgan analysts estimate that Apple's annual revenue from music and gaming services could jump 36% by 2025 to $8.2 billion.

Moreover, with Apple reportedly working on new products such as augmented reality/virtual reality (AR/VR) headsets, it wouldn't be surprising to see its installed base expand further and services revenue go higher. Not surprisingly, the tech giant's top line is expected to head consistently higher in the future.

AAPL Revenue Estimates for Current Fiscal Year Chart

AAPL Revenue Estimates for Current Fiscal Year data by YCharts

All this makes Apple a solid Warren Buffett stock to buy right now. It seems built for long-term growth thanks to some healthy catalysts.

2. Snowflake

Though Snowflake stock is a currently a small constituent of Berkshire's portfolio, it could be a big winner for Buffett, in the long run, thanks to the massive market that the company serves and its terrific growth. The cloud-based data platform -- known for providing users with multiple services such as data warehousing (for storing filtered data that can be analyzed later), data science (which is studying huge data volumes for extracting meaningful insights), data lake (which contains unfiltered data), and secure storage of data, among others -- has been growing at an eye-popping pace.

Snowflake released its fiscal 2023 third-quarter results (for the three months ended Oct. 31) on Nov. 30. The company's quarterly revenue shot up 67% year over year to $557 million, driven by the healthy growth in its customer base as well as an increase in customer spending. Snowflake ended the quarter with a 34% year-over-year spike in the total number of customers to 7,292.

What's more, the number of customers who have spent $1 million or more on Snowflake's products over the past year shot up an impressive 94% year over year. It is also worth noting that the company's remaining performance obligations, which represent contracted future revenue that is yet to be recognized, jumped 66% over the year-ago quarter to $3 billion, indicating that Snowflake has built a solid revenue pipeline.

Snowflake should be able to sustain such impressive growth in the future, as it claims that its total addressable market could be worth $248 billion by 2026. Data warehousing, data lake, and Snowflake Unistore -- which integrates transactional and analytical data into a single platform -- would present the largest opportunity by 2026 at $173 billion.

The company is in a nice position to make the most of this massive market, as it is on track to end 2022 with a 20% share of the data warehousing market, second only to Amazon, which is expected to exit the year with a 22% share. Not surprisingly, Snowflake's top line is expected to take off strongly going forward.

SNOW Revenue Estimates for Current Fiscal Year Chart

SNOW Revenue Estimates for Current Fiscal Year data by YCharts

What's more, analysts are expecting 295% annual earnings growth from Snowflake for the next five years. That's not surprising, as Snowflake generated $1.86 billion in revenue over the trailing 12 months, and it is sitting on a huge opportunity that could supercharge its long-term growth.

However, investors will have to pay a rich 25 times sales to buy Snowflake. But that represents a big discount to last year's price-to-sales ratio of 97. So investors on the hunt for a growth stock that Buffett owns can consider buying Snowflake, as it is growing fast enough and has enough catalysts in the bag to justify its expensive valuation.