Jim Lebenthal

This is thuggish behaviour with Trump telling Apple, "Pay up." And now the negotiation comes. Tim Cook will have to pay it, whether through lower gross margins for example. Remember that Trump needs to pay for the tax cuts he just passed. The world knows now that the U.S. won't cut spending, and Trump needs to find money--squeezing everybody he can squeeze. Expectations needs to decline for Apple. In recent years, Apple's growth has slowed and their AI hasn't come out as hoped (and they may not get AI right), but as the US market goes, so will Apple. That said, the difference is Apple's services which boasts wide margins, and Apple has a history of catching up the latest innovations. When money flows into markets, it flows into Apple.

He bought more. Has great faith in management who will turn things around, though it will take time. Steel prices have risen, but CLF has to wait for their existing contracts to end before they can raise their prices. Also, given tariffs, demand from the car industry here should increase with higher volumes.

He just heard the news, so he is avoiding a knee-jerk reaction either way. He is holding on for now. His position is not set in stone. This isn't the first threat to Google.

Theme parks are hanging in despite a tough consumer and DIS doesn't expect weakness in consumers. Streaming is replacing cable. Likes the Abu Dhabi news.

Their international expansion makes them a growth stock.

Over 5 years, their annualized return is 15%, inline with the market, but it suffers these crazy ups and downs on a quarterly basis. Operations are still doing fine, including traffic, while fuel prices are declining.

He's bullish materials in this macro climate, and CRH is the biggest of the bunch.

Is a utility that's blamed for the LA fires (wrongly), and shares are punished. He's sticking with it.

The stock has been an absolute disaster due to one reason: Adobe products face serious competition. They beat quarter after quarter (expectations are not lowered ahead of time, either). The competition is not as bad as people expect. Adobe is ridiculously cheap and unfairly sold given its growth rate, EBITDA and free cash flow. Hold and wait it out as they buy back shares.

He's bullish energy and this is the must-buy. Scale will matter and XOM can spread its costs over a wide base.

Are buying back 15% of their shares and trading at 80% of tangible book value, which is immediately accretive. Add to this lower compliance costs as regulation goes down. Is bullish the sector.

Jensen Huang made a positive announcement at the tech conference and shares are bouncing today, but he's surprised the response is not bigger. It's muted, but is an omen for the next few weeks until the April 2 tariffs that Trump plans. Tech is up today, but down for the past several weeks. Wait and see.

He bought more today on the dip. Trades at 24x earnings, expecting that to grow 50% this year. The growth rate will one day drop off, but now now. It boasted a triple beat and remains the leader of semis.

His best performer so far this year, up 12%. Well-managed. They replaced Humira with hit drugs and added key companies; pays a 3.2% dividend. 

Fuel prices are now low, there's no labour contracts up for negotiation and plane travel demand is high. Also, the PE is now attractive. His pick is DAL in this space. They will probably earn $7.50 this year and $8.50 next. Make sense to put a 10x multiple on it.