Brenda Vingiello, CIO, Sand Hill Global Advisors

In October, she expects earnings to be strong and to turn the market around. It would be the first quarter of earnings growth after quarters of weakening earnings. Energy should have a much better quarter, due to rising oil prices. September has brought the market back to reality after the June/July rally. Though, the economy remains strong, despite the Fed likely staying higher for longer. At the core are earnings next month. Megatech: One way they benefit is that their huge cash flows earn on high interest rates by doing nothing, and they could make acquisitions to grow. Also, their PEs are reasonable.

The Chinese consumer saved more than Americans during Covid, saved a lot, so there's a lot of cash sitting on the sidelines. Also, China has been exporting deflationary goods (cheaper) which benefits American consumers, because of the weaker Chinese economy. But a risk for the global consumer are high and higher oil prices which would inflate prices.

Operating margins came in 3x better than expectations. There were strong results in this report and investors have been waiting a long time for that. Earnings have been suppressed by all their reinvestments and this will continue. Amazon won't be greatly impacted by moves in interest rates, though the sector has. This will rebound when we end the rate-hiking cycle--and we're near that. Amazon has more growth potential than Apple. Despite its size, Amazon still has only a small portion of global sales. Apple still has growth in services, emerging markets, but the installed base of users is enormous at 2 billion. Apple is more of a maturing company, and that's okay; Apple is predictable. Apple trades at a high PE of 30x, but that isn't sustainable for the next several years.

Operating margins came in 3x better than expectations. There were strong results in this report and investors have been waiting a long time for that. Earnings have been suppressed by all their reinvestments and this will continue. Amazon won't be greatly impacted by moves in interest rates, though the sector has. This will rebound when we end the rate-hiking cycle--and we're near that. Amazon has more growth potential than Apple. Despite its size, Amazon still has only a small portion of global sales. Apple still has growth in services, emerging markets, but the installed base of users is already enormous at 2 billion. Apple is more of a maturing company, and that's okay; Apple is predictable. Apple trades at a high PE of 30x, but that isn't sustainable for the next several years.

Shares are popping 9% on earnings. They have a lot more international exposure than Expedia. Also good was that their US business was up nearly 10%. Also, there's no sign of slowing in travel. She's sticking with her position and make take profits later.

You need some exposure to energy, so she's sticking with this.

There's growing demand for liquified natural gas. LNG's production is also growing.

It can be a volatile stock and frustrating, because it's tied to the price of lithium. Long-term, though, demand should be fine with it tripling by 2030. Hang on if you own it.

They just reported a good quarter. They have solid growth; there will be more surgeries through the backlog.

There's decent risk/reward in bonds, in which she has been adding instead of large-cap stocks. That said, there are still opportunities in stocks, but wait till next week's Fed meeting. There could be a loss in consumption coming.

Owns UPS instead, and it's good that FedEx that both are focusing on profitability. She prefers UPS for having more density in its ground business and more tied to e-commerce which will remain strong. UPS is exposed to Amazon, which some feel is a risk, but she doesn't anymore, because Amazon can't invest more in infrastructure anymore.

Owns UPS instead, and it's good that FedEx that both are focusing on profitability. She prefers UPS for having more density in its ground business and more tied to e-commerce which will remain strong. UPS is exposed to Amazon, which some feel is a risk, but she doesn't anymore, because Amazon can't invest more in infrastructure anymore.

A super growth story. Incredible move higher this year. Has the best long-term growth among semis, but this year will see a lot of volatility. Don't add given the valuation too.

A quality insurer and leads the industry in margins. It's pulled back enough this year that you can add a little now, but there are other defensive names like JNJ to consider too.

Has pulled back a lot this year. Inexpensive and defensive.