Paul Harris, CFAZebra Technologies CorpZBRATOP PICKApr 21, 2022

With this, the government gives you a low coupon and is topped up by the actual inflation rate. If a lot of inflation expectation is priced into the current price, but inflation turns out to be lower, you get a smaller coupon. You got to be an expert at forecasting inflation. This type of ETF is for experts who can predict inflation, not for the average investor.

EPS of $1.71 beat estimates of $1.65; revenue of $1B was 1.3% better than expected. The outlook was quite solid. Revenue has solidly improved from the Q3 bottom and channel inventories are lower, suggesting future demand strength. 2024 sales growth is still low (1% to 3%) but earnings are recovering much faster, with better margins and lower tax rates. We think the pop was justified. 
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ZBRA's share price has been falling alongside the market so far in September, but this has been somewhat exacerbated by a rating downgrade by Morgan Stanley. We do not feel that anything has fundamentally changed, and its weakness is similar to many names in today's market. It trades at a somewhat premium valuation, with a forward P/E of ~30X, and has decent margins, but sales growth has been somewhat muted recently and investors are likely trying to connect its premium valuation to sales growth. Earnings growth is expected to be strong in the coming years, and we like it for the industrial robotic side of things. We are comfortable with the name, especially for a long-term hold, but we might expect some further downside pressure as it retests its lows of ~$230. 
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Likes the story, because e-commerce will continue to grow. Grew rapidly through Covid, and that growth is now being digested. Good time to buy. Company's not going away. Product needed, as it's all about logistics.

Integral to e-commerce. Grew rapidly through Covid. Key for inventory management. E-commerce is settling down, but isn't going away. Debt-free by end of year. Great story at these levels. Really well run.