Amy Raskin, CIO, Chevy Chase Trust

It's lost a third of its market cap and the selling is overdone. Now, is a buying opportunity.

It reports next week. It remains her largest position, despite regular trimming. NVDA will continue to increase until they eat into the backlog sometime in the future.

It's had bad news this week, but it rarely gets a pull back. Long term this is fine.

If the Chinese consumer continues to recover, EL will do well. But even with the stimulus announced in China this week, China won't come roaring back.

She trimmed it a while ago. It's been terrible all year. There's no more pent-up demand. The aspirational buyers happened during the pandemic when consumers were flush. This will struggle for a little while.

She sold it last spring. It's good that they changed the CEO. Wait and see. They have lost so much market share. They need new product.

Likes it. The Frontier acquisitions was smart. The stock is cheap.

She owned this at $50 and is now $269, so she trimmed to take profits. Are well-positioned for the long term, but the PE is not cheap.

Likes the energy space. Shell is cheap compared to its peers. Boasts a 12% free cash flow yield.

She expects their quarter next week to be fine. It well-positioned with high-end users and travel.

Wants to trim, because it's had a such a big run like all semis (overbought sector). ASML trades over 40x PE. 

An analyst signalled buy on weakness, but Apple remains a hard call for her. Thes tock is still expensive for its future growth, despite new innovations just announced in AI. Trades at 25x. Is a great company, but she won't add to it now.

Recently took some shares off the table. She's owned this a long time. A large position. Shares have doubled in 3 months. It has a perfect set-up now: many buyers with cash, concentrated positions, little capacity and too much demand. Nothing to stop this for the long term, but it's prudent to take profits.

It it continues to correct, this may become interesting. But it still trades at a 25x PE with almost no growth and a high market cap. Their share buyback helps.

She just bought it because she needed consumer exposure. She likes leisure, travel and post-pandemic consumer behaviour of this. Trades below the market multiple and is not well-loved.