Brenda Vingiello, CIO, Sand Hill Global Advisors

The market got oversold. Market fundamentals are still quite healthy and are seeing signs of inflation coming down. Watch new inflation data next week. If this rate-hiking cycle pauses by the end of the year, that is positive; it will offer clarity to the market on what comes next.

Their valuation has declined. Their devices are used in revenue-generating procedures at hospitals, which is safe, even as the economy slows. Good outlook.

Buy tech? The software companies boasts large recurring revenues, which makes them attractive. Also, there's a big shift to the cloud which will continue even during a soft economy. So, many large-cap software stocks like MSFT are relatively expensive. However, the semis look cheaper, like Nvidia which is down more than 50% YTD and not cheap, but historically yes. They are innovative. A buy.

Buy tech? The software companies boasts large recurring revenues, which makes them attractive. Also, there's a big shift to the cloud which will continue even during a soft economy. So, many large-cap software stocks like MSFT are relatively expensive. However, the semis look cheaper, like Nvidia which is down more than 50% YTD and not cheap, but historically yes. They are innovative. A buy.

Powell's hawkish comments today The job market remains strong and other economic data has been strong. There was no reason for Powell to be dovish at all. He needs to send a clear message that the Fed will fight inflation. Sounds like the Fed will keep interest rates high for a long time. A soft landing remains possible.

If the digital ad market slows, Google search will remain a relevant place for advertisers for spending dollars on. Over time, their cloud business should help earnings. Trades at 18x earnings, this is an interesting story.

She likes the company, but it is hitting the upper bound of valuation--too high. But if more money flows into the S&P, then the company is a pretty big piece of that index and move up even as its valuation rises too. She owns it, but is underweight.

She owns it, but is underweight. She likes the company, but it is hitting the upper bound of valuation--too high. But if more money flows into the S&P, then the company is a pretty big piece of that index and move up even as its valuation rises too.

Amazon is a favourite in the tech space. They boast flexibility following many years of reinvesting in their business, in fact too much investment. So, there could margin expansion even in the face of rising costs.

Just reported a great quarter with better than expected Disney+ subs. Theme parks are doing well. The stock has lagged in the last couple of years, but is well-positioned for the future.

Even the poorer consumer is still spending and consumers as a whole are taking on more credit card debt. These are positives. Market sentiment has been too negative, too mired. The economy is still healthy. The consumer is a giant driver of GDP group in the U.S. Coming weeks will see corporate earnings and offer more insight.

They ploughed tons of money into their business, raising concerns over margins. Now, we face less investing by Amazon and expanding margins. Consumers remain strong and shares have underperformed the last two years. Of the megatech stocks, Amazon is the most interesting.

If commodity prices continue to move exponentially it will likely degrade demand, so she trimmed a holding to buy long-term treasury bonds, the first time she has held Ts for over a decade. She expects the economy to worsen, so she bought Ts to be defensive, and this was the right moment.

Healthcare has done very well. She just added Zoetis, pet health. One in 5 households adopted a dog in the last 2 years during Covid. Zoetis has held up well relatively to the market.

Their next quarter won't really be about Q2 but what's to come. Will supply chain disruptions ease in the second half of 2022? Will production be more profitable?