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Stock Opinions by Joe Terranova

COMMENT

The megacap tech names will eventually resume their rally. The S&P in the past 5 days is up 2.6% because MSFT, Apple and Amazon are all outperforming the S&P. Forget this binary outcome for the index, which he feels will go where megacap tech will do. Coming up is the most compelling earnings season since Oct. 2018 when industrials like Caterpillar were fearing tariffs. Now is the same situation but from rising input costs including wages that'll effect company guidance. The current reopening is about stagflation (last year's was about reflation). Smallcaps are still below their March highs. Airbnb, Disney and Uber--reopening stocks--are not ripping to new highs; it's different from 2020's reopening. Input costs and wages are spiking.

Unknown
SELL

He sold it in July, getting stopped out after a three-month trial period, to buy RSX (Russian ETF, oil).

Technology
BUY

He sold it in July, getting stopped out after a three-month trial period, to buy RSX (Russian ETF, oil) to get exposure to Russian oil and natural gas. We're in an energy shortage.

oil / gas
HOLD

He's holding on. Saw two analyst upgrades today. The company faces a slowdown in China's economic growth, but he expects encouraging guidance to come.

food services
BUY

This will return above $300. His pick of the day.

computer software / processing
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