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Stock Opinions by Josh Brown, CEO, Ritholtz Wealth Management

BUY
It's on the verge of a major breakout. He just bought it $93. This breakout will be 9 months in the making, if it happens. It's the big regulated utility in Florida. They changed their name a decade ago when they got into renewables. Renewables has been absolutely on fire. They are building solar or wind projects in dozens of states. Morgan Stanley just upgraded NEE this week for it benefiting big from Washington's latest legislation to promote green energy. NEE earnings should be solid and pays a modest dividend. They have offence and defence which makes it very attractive. They will breakout above $92.
electrical utilities
BUY
Carl Icahn is a genius, having kicked out the CEO and is now the 3rd-biggest shareholder. They're doing work for other utilities in infrastructure. SWX may spin off their infrastructure business. There are many different ways to win here. Icahn tried to buy at $75/share--that's the floor. At $81, he doesn't see much risk. Is paid 3% to wait. The upside will come with a spin-off--the reward can be huge if they let Icahn take control of the company.
Utilities
STRONG BUY
It has not gone above its 200-day moving average, but is threatening to now. He urges anyone to listen to the early-August conference call. Buyers held on during the recent tech sell-off and in fact are still buying. They are now cash-flow positive and offer growth. They are gaining with Uber Eats while competitors fade. They sold off weak non-core assets. You can start appreciating its fundamentals. It is showing growth as it adds rides and deliveries. He's very bullish.
Technology
COMMENT
The 10-year yield peaked on June 14, the day before the stock market bottomed--not a coincidence. That yield is now ripping higher and heading to where the 2-year yield already is. When that happened before, markets were even worse. So, when these yield meet again, will the market tolerate it better. Possibly. That's the number-one thing to watch.
Unknown
COMMENT
This equally weighted ETF of semis has a forecast PE of 16x. Some semi stocks have a forward PE north of 25x. Is this realistic? He doesn't think so.
E.T.F.'s
HOLD
Not a cheap stock and that's why it hasn't performed even after a flawless quarter. Their business model and growing dominance over the entire Fortune 500 will be more meaningful than a discounted PE. Will stick with this.
Technology
COMMENT
Has been a cheap stock for 10 years and underperformed most peers.
misc industrial products
COMMENT
Just because it's an important stock doesn't mean it has to lead the market in returns. Apple can crash or lag or be flat. But Apple can't drop bombshell news this year, like problems in China. Over 5 years, Apple has risen 675% over 10 year vs. S&P's 240%.
electrical / electronic
COMMENT
Powell's hawkish comments today The last thing the market needs is to expect a dovish pivot by the Fed. He expects more tough talk from the Fed. So, a definite recession in Europe within 12 months and a 50% chance in the U.S. There have been 9 instances since 1945 when a recession was the cure for inflation.
Unknown
HOLD
Shares are down 50% off highs and an analyst today sees even more downside because a large segment of chips are used in gaming and crypto mining It's no mystery that demand for chips used in crypto mining doesn't exist now. This was a $320 stock and now $160. Is this news to anyone? At least 80-90% of the crypto segment has been priced in--the market isn't blindsided by this. Also, this has always been a high-beta (1.65) stock. But this volatility works in both ways, and at some point a lot of this negativity about things like gaming will be fully priced into this story.
computer software / processing
BUY
A pure play on oil producers, which sat out the bull market this summer. But that bull market is now reversing.
E.T.F.'s
COMMENT
The bad news for megatech is that they haven't gone down as much as the wider market. Those tech ones that have held up the best sp far, eventually fall down. True, Meta and Netflix are down by half. Last quarter, Amazon reported negative sales and might again. Note that 18% of Apple's business comes from China, so what is the impact of China's lockdowns? Will other consumer plunk down that much money for a notebook amid this economy. The headwinds are real, but we are close to ending this bear market.
electrical / electronic
COMMENT
The bad news for megatech is that they haven't gone down as much as the wider market. Those tech ones that have held up the best sp far, eventually fall down. True, Meta and Netflix are down by half. Last quarter, Amazon reported negative sales and might again. Note that 18% of Apple's business comes from China, so what is the impact of China's lockdowns? Will other consumer plunk down that much money for a notebook amid this economy. The headwinds are real, but we are close to ending this bear market.
specialty stores
COMMENT
80 days ago, Berkshire made an all-time high, but yesterday they made a 52-week low. Only twice has this high-to-low happened: 1987 and 2020 Covid flash crash. We haven't seen the worst for megatech like Apple and Microsoft.
insurance
BUY
Is bullish biotech Biotchechs like Insight are up 13%, Moderna 25% and Regeneron 6% so hitting their lows. The whole XLV is up 8.5% off its June 17 low. 91 stocks in the S&P are above their 200-day moving average, and 18 of these are healthcare. This is the best sector to be overweight in.
E.T.F.'s
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