COMMENT
Market Outlook He would not be surprised if the market re-visits the March 23 lows. He thinks tech stocks will benefit from the work-from-home trend. The cloud, hardware, data centres, social networks, telecom and e-commerce companies will benefit. Internet networks have held up as utilities have ensured there is enough electric power available. The real estate industry will need to adapt, but it is too early to judge, but commercial real estate will have to adjust for sure.
WATCH
Cinema closings? COVID-19 has put this investment thesis on hold. It does not kill it, but there are other opportunities out there. Their theater technology is a wonder, but it would not interest him now. You need to know when movie theaters will be allowed to open up again.
WAIT
It has never been more than a dividend investment to him. If you look back a couple of months ago the 5G deployment strategy was going to create a long runway. However, the debt ratio is very high at 60%. He thinks cost savings and revenues from streaming services will help. His price target of $48 is contingent on 5G and streaming being successful. He would wait. Yield 6.9%.
BUY ON WEAKNESS
His target is $48.60. He has taken about half his position off, looking to buy back in back in the mid-$30s. The company focuses on monitoring and analytic services, helping companies that are moving into the cloud. It is cash flow positive and is consistently adding to its profit margin. He expects a correction will be coming so he would buy on weakness.
BUY ON WEAKNESS
It is involved in enterprise information management software. They are a darling in the space. Users of their software are the largest users in the space. They picked up some interesting companies to expand cloud revenues. Yesterday, they bought a company out of Quebec that offers a great cross-selling opportunity. He has a target of $43, but is looking to buy in the low $30s.
COMMENT

Canadian tech? OTEX and SHOP would be good Canadian tech companies, along with CSU. All well situated for the cloud and e-commerce. He expects to see a market correction, so would wait for lower pricing.

COMMENT

Canadian tech? OTEX and SHOP would be good Canadian tech companies, along with CSU. All well situated for the cloud and e-commerce. He expects to see a market correction, so would wait for lower pricing.

COMMENT

Canadian tech? OTEX and SHOP would be good Canadian tech companies, along with CSU. All well situated for the cloud and e-commerce. He expects to see a market correction, so would wait for lower pricing.

COMMENT

Canadian tech? OTEX and SHOP would be good Canadian tech companies, along with CSU. All well situated for the cloud and e-commerce. He expects to see a market correction, so would wait for lower pricing.

WAIT
He follows this very, very closely, but does not own it. They produce holograms of people and beam them to different locations. There service is expensive, but they are working to making it more commercially available. Big financial institutions use them.
PAST TOP PICK
(A Top Pick Apr 17/19, Up 25%) He likes the big mega-cap tech companies. Over 11 years in their history, they are in the right place at the right time. Their AWS business now accounts for 70% of revenues. They are going to own the cloud business for years to come. If there is pressure for growth, they can increase margins. Still in his Top 5 holdings. His target is $2650.
PAST TOP PICK
(A Top Pick Apr 17/19, Up 9%) Always a Top Pick for him. Even during these uncertain times there Q1 performance is still great. His target is $1555. They just reported search activity is up hugely and they have massive increase in cloud services (up over 50%). Ad revenues are down a bit, but will great again when things get turned back on. He would buy on weakness down at $1200 and then $1100.
PAST TOP PICK

(A Top Pick Apr 17/19, Down 7%) The competition is with the likes of SHOP. They will report earnings tonight. They also provide financing along with collecting transaction fees, where margins are 40%. Ongoing fees have margins of 80%. In the long term, the opportunity remains. He still likes them. His target is $79.

COMMENT
They reported last night and they beat consensus aggressively. He does own this. Their digital entertainment business is successful with brands like Call of Duty games. He has a target price of $70.
COMMENT

He does not own AMT today. In 5G, he prefers CSCO and NOK.