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He bought more last week, very bullish heading into Q3. Over the weekend, China reported record sales. This could settle around $197-200. The August robo-taxi unveiling could be influential. China is extending subsidies in consumers buying Teslas.

Shares have been rallying because the last several years, management reigned in spending and started a strong capital allocation strategy. This is consistent with the other Mag 7 companies. The street has rewarded Meta for this. The market comes down to these companies continuing to grow revenue.

The semi trade is driving the market and economy. Chips are the new oil. Today, the S&P is recovering nicely today. Nvidia is rising again (though is actually flat in the morning).

He just bought Datadog, because something exciting is unfolding in software. Software is bottoming. DDOG participates in the crucial area of AI, security, using cloud-based monitoring, which is important to enterprise. It's breaking out now around $130 today.

He owns a lot of energy stocks. This sector is performing a lot better year to date than the street gives it credit. Many energy companies like Exxon and Marathon are doing well. The second half of 2024 looks positive.

Financials are rallying, and he expects IBKR, one of the better names, to break out to a new all-time high.

It's pulled back but not overpriced even trading at 40x, which is expensive for a semi stock. But its growth rate justifies that. The PEG ratio is 1.0. But we have 2-3 quarters before their growth rate falls off, when the inevitable happens, when customers get their orders and inventories filled. Not now. Now is a healthy consolidation for the stock, then it resumes its next leg higher. He won't trim it here, but in 2-3 quarters.

Been on a downtrend, though fairly priced. Earnings need to beat for shares to also rise. Trades at 18x forward PE and a PEG ratio of 1.7. A tailwind is US capex spending and all those materials that need transporting, like steel.

He just added more. Until 9 months ago, CIti was a dog as the street wasn't giving the new CEO the benefit of the doubt in her turnaround plan. But that's changed. Will know more in next week's earnings. Last week's bank stress tests were important. Citi will slightly raise its already-high dividend, but will buy back a lot of shares.

An attractively priced way to play AI.

Generally, there are AI applications to come to the Mag 7 companies. Nothing new has happened to Meta in the past month that investors don't already know. That said, an analyst just raised Meta's price target, but that remains too low though reasonable at 25x PE.

hit, and that's when he'll buy back. Its PE is too high now. He foresees their key AI chip being commoditized by other companies. Their shareholder day didn't do much to the stock. He took profits again to be cautious.

Is a top asset manager and investment bank. Will benefit as more IPOs happen. Same with M&As as interest rates tick down. Given these, GS is in the sweet spot. Great managers.

Just announced that Taiwan Semi will spend $12 billion on their EUV machines. ASML has a huge wait list for its products, a 20-month wait.

In AI, software has taken over from the chips, because of valuation. Semis have run up recently and now investors are locking in some gains (but still in tech). Therefore old tech and software are benefiting now.