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TOP PICK

AbbVie Inc. is a pharmaceutical company headquartered in North Chicago, Illinois. It is ranked 6th on the list of largest biomedical companies by revenue. Their primary product is Humira (adalimumab) ($21 billion in 2022 revenues, 37% of total), administered via injection. It is approved to treat autoimmune diseases including rheumatoid arthritis, Crohns disease, plaque psoriasis, and ulcerative colitis. Social media mentions are up 333% in the past 24h.

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🔒 Premium Content Alert – This buzzing stock opinion is accessible only to Premium members

Discover an exclusive list and analysis of the stocks that are trending on social medias—accessible only to our Premium subscribers. With a keen focus on the stocks that are setting social media ablaze, this weekly feature offers an invaluable lens through which to evaluate market movers. Say goodbye to the endless scroll through social media timelines; we curate the buzz so you can invest your time as wisely as your money. Unlock Premium Now.

TOP PICK

spirit airlines (nasdaq: save) is the ultra-low cost airline of the americas and home of the bare fare. spirit’s fares are unbundled; they simply reflect the cost of taking customers to their destination without any extras. every customer gets frill control: the ability to choose what perks and options they’d like to add to the bare fare, independent of the choices of other passengers. structuring fares this way allows every passenger a chance to fly for less than any other airline. spirit’s fit fleet is one of the youngest flying and is one of the most fuel-efficient in the industry. this innovative approach grows the traveling market and stimulates new economic activity while creating new jobs. spirit currently operates more than 250 daily flights to over 50 destinations within the u.s., latin america, caribbean and canada. for more information, head to spirit.com. media note: spirit aircraft photos and video b-roll are available in the pressroom section of spirit.com at spirit.com Social media mentions are up 500% in the past 24h.

COMMENT
September markets.

Pretty much like August and part of July, sort of range bound. The S&P and the NASDAQ have been either side of the 50-day MA, kept in that band of 1-2% above and below. Hopefully, today we get a breakout, though he can't predict which way it will go.

The recipe and ingredients are there for a breakout, either higher or lower. It will all come down to the press conference after the Fed rate decision. If J. Powell is more hawkish, markets will probably test on the downside. If he's not, we might get a bit of a rally. The market just has to break out of the range it's been in for the last 7-8 weeks.

COMMENT
Has AI enthusiasm died down?

Not at all. A year ago, he was talking about generative AI that could be the next catalyst to come in the technology arena. And that's what happened. 

The sector has matured, because you know who the players are. You have the hyperscalers with the cloud, and you have the processing names like NVDA and AMD and INTC coming in. In 2024, new chips will be coming out from those names and they'll be quite competitive. And then you have the software stack. It's all coming together, but you can see who's in the leadership position.

With interest rates high, and potentially going higher, you really have to stick with the big names that have the deep pockets.

DON'T BUY

He follows it. Very much a reseller of MSFT software. Extremely competitive industry, and these guys are only regional. Very good customer service. Not profitable, and that's the problem.

(Analysts’ price target is $4.95)
COMMENT

A leader in Canada. Report in June highlighted alleged financial discrepancies. Frightened the retail side, though perhaps not the institutional side. Great company, but needs to prove itself over the next quarter or two.

(Analysts’ price target is $30.50)
WATCH

Follows it. Stock's come down as company digests acquisitions. Interesting.

COMMENT
Tech ETF?

Not a big fan of ETFs, because there's a price to go in and a price to go out. Outlook for the remainder of the year and going into 2024, we could be range bound. You could buy the QQQ or the NASDAQ futures. If we're range bound, it's very technically driven, so you have to know where resistance and support are.

TRADE

Outlook for the remainder of the year and going into 2024, we could be range bound. If we're range bound, it's very technically driven, so you have to know where resistance and support are.

You have to trade it, because we're not in an investing environment.

BUY ON WEAKNESS

Tremendous market cap, but has had some issues. Class-action lawsuits as a result of involvement in SPACs. Rising profit margins, great free cashflow. Leader in software stack. Concentrated clients, but they're sticky. Not a buy now, but try for $12-13.

(Analysts’ price target is $14.25)
HOLD

80-85% of revenue comes from ads on Search. A recession would impact this, always keep that in mind. So many horses in the race. Together with MSFT, very much a leader in the AI space. Will do extremely well with generative services. A Top 5 holding. Constantly beats expectations. #3 in the cloud, but ORCL is biting at their heels. 

HOLD

Together with GOOG, very much a leader in the AI space. A Top 5 holding. 

BUY

With the inverted yield curve and high interest rates, you really have to go to the growth stocks with deep pockets. So many horses in the race, tremendous free cashflow. Hiring 250K in fulfillment just for Christmas. Still likes it despite its great run. His price target is $164.85. The runway just keeps going on for its total addressable market.