Sarat Sethi, Managing Partner, Douglas C. Lane & Assoc.

Down 25% this morning and shares halted. The situation is changing constantly. He's watching it. Depositers are safe. Who will the bank merge with, etc? He has sold part of his position to a small holding. He will eventually decide whether to keep it or dump it.

They're different from other megatechs, because they have many pressures on them--cloud and retail. This is not a cheap stock, close to 40x PE. This is a pure show-me story in a decelerating economy. AWS's market share in 2016 was 74% but 51% today. There will be margin pressure.

They sell snacks and not just the drinks. Are raising prices as input prices decline. A tailwind will be the USD when it eventually weakens. Well-run company and defensive that you need in this market.

Well-capitalized bank. Boast a great management business.

In this market, fundamentals matter and Apple has good fundamentals and can increase earnings. This upgrade is a positive signal for the wider market. You can be safe in Apple, but fundamentals will determine where the market goes.

Stock is down 12% this year. They will spin off their consumer business. It pays a 3% dividend. The lawsuit is an overhang (https://www.forbes.com/sites/korihale/2023/02/07/appeals-court-clears-the-way-for-38000-johnson--johnson-baby-powder-lawsuits/?sh=45077c8ed7fc). But the valuation is cheap, good balance sheet, and catalysts lie ahead. Likes it.

Gas prices are coming down and consumer spending remains strong.