Stephen Weiss, Founder, Short Hills Capital Partners

Is unsure what their AI strategy is and the risk to their subscription base.

Meta has an uncanny ability to come out with new products. But the one problem with Meta--the UK just banned social media for children under 16. If this ban expands--and he thinks it will--it will hurt their ad revenue. Overall, Meta is spending on AI which maintains their lead over their peers.

The market doesn't care about its high valuation, but only the dream going forward. Musk is a genius who's made people continue to believe in the extremely high Tesla valuation, despite declining fundamentals. He'll buy it. This is a bet pure and simple on Elon Musk. It's a speculative trading stock, not a hold.

It's 90x EBITDA or revenue--either is lunacy. Where does it go from here? He can't buy it at these levels.

It remains a bifurcated market. Most consumers will still dig themselves out of a hole, living paycheque to paycheque. The other consumers are driving the market and spending.

He sold it. It will stay at current levels. The big issue is the government is after all these consulting companies to lower their costs. Also, they have a big healthcare contract with the veteran hospitals, which is an overhang. Management is good, though.

Analysts when they made their estimates didn't count on GS winning the SpaceX and openAI IPOs.

He likes the moat around the cybersecurity incumbents. Fears that Anthropic and AI would break cyber companies were overblown.

He added more after they reported a good quarter. They did have margin issues at Foot Locker, but this will sort itself out. Valuable is reasonable, not expensive, and has a moat. They continue to improve store format to entire customers. 

He trimmed it. Trading at a 32x forward PE, but typically in the mid-teens. As long as data centres are being built, this will participate, but it doesn't hurt to take some money off the table.

Based on previous cycles where momentum can turn on a dime, Micron is especially vulnerable to this. Chips are acting like a commodity. That said, he doesn't see their share price or earning declining. A caveat is adding capacity, which has always killed the chips cycle. The difference is that now it takes longer given supply chain issues to add this capacity. Maybe one or two years out, MU will turn, doesn't know.

Is not concerned with rising costs. Dell has much-higher earnings backed by strong demand. They can pass on costs to their customers.