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Today, Kim Bolton commented about whether TSLA-Q, CAJ-N, ASML-Q, SHOP-T, CRWD-Q, MRVL-Q, IBM-N, KLAC-Q, LRCX-Q, CHKP-Q, CSCO-Q, EQIX-Q, AMD-Q, KEYS-N, GOOG-Q, NIO-N, LSPD-T, NVDA-Q, PANW-N are stocks to buy or sell.

PARTIAL BUY
Palo Alto Networks
Today's disappointment.

Beat on top and bottom lines for Q4. Lowered guidance for 2024, but also lowered the billings (new business) which was quite a surprise. A generalist in cybersecurity, but also caters to small- and medium-sized businesses. They do wonderfully in the current quarter and then get very conservative. Lots of macro uncertainty. Don't want to have to revise down during the quarter. Better to surprise to the upside than have to come in and apologize. 

Doesn't deserve the 25% haircut. Options plays have to play out. You could step in today with 1/3 of your allotment, and then watch the price action.

0
COMMENT
Impact of PANW earnings report.

It's like a domino going through all of them -- CRWD, FTNT, CHKP all took a haircut. It's not necessarily a bad sign for the tech sector. There's still a lot of uncertainty in the macro environment. 

NASDAQ has come off about 500 points from that 18,000 level. The 50-day MA in the NASDAQ 100 is right around 17,200. If it goes beneath that, it can probably drop another 500 points.

Could get another 5-7% downturn, but a great opportunity to buy leaders in the technology arena.

Unknown
PARTIAL SELL
NVIDIA Corporation
Reporting tonight.

Pretty amazing story. Last quarter reported just over $6B in sales. This quarter is expecting over $20.1B. Hard to figure out what's going to happen this afternoon, let alone 3 years down the road. Core holding. He trimmed a bit, pretty fairly valued. 12-month price target of $710, though other firms have higher targets. You know that earnings are going to be good, but it's all about the guidance.

Short-dated options market expecting a heck of a lot of volatility tonight. Wouldn't be surprised to see a selloff. Smart money will be looking to buy on dips.

Wide moat. Good relationship with TSMC.

computer software / processing
RISKY

Replaced CEO with founder, hopefully will provide some stability. 12-month price target of $22. Volatile. Favours SHOP on e-commerce. 

Technology
WEAK BUY
NIO Limited

Smaller niche player, more skewed to the luxury SUV side. 12-month price target is $9.85. There's value here. His favourite is TSLA. See his Top Picks.

Automotive
BUY ON WEAKNESS
Alphabet Inc

Really likes. Makes most of $$ from advertising, but lots of other horses in the race. Always in his top 5 holdings. AI revolution costs a lot of money, and GOOG and top peers are the ones who have it. Fears that OpenAI will come up with a better Search "mousetrap" are countered by GOOG's long-standing dominance in that area. Market will still buy on dips.

Technology
BUY

Reported last night, took a bit of a beating. Lowered guidance on earnings and revenue. King of measurement for equipment, but especially for commercial communications. Great opportunity to buy an excellent company with a great funnel of business.

0
PARTIAL BUY

12-month price target of $183, very decent runway. Once the market starts to roll over, everyone is worried that it's the end. Instead, this is a great opportunity. Don't buy all at once, as things are still sorting out. Along with INTC, closest to competing with NVDA, but big difference in market cap.

Beat on top and bottom in January, slightly lowered guidance. Exceptional CEO, great management team.

electrical / electronic
PAST TOP PICK
Equinix, Inc.
(A Top Pick Mar 29/23, Up 26%)

Should be one of the Magnificent 7. Huge migration to cloud, cloud resides in data centres, and EQIX is the biggest one out there. Growth of cloud still in early innings. Really good at scaling because they're so big. Beat top and bottom, guided up. 12-month price target of $992, decent runway.

REAL ESTATE
PAST TOP PICK
Cisco
(A Top Pick Mar 29/23, Down 3%)

King of networking, feeds into AI. Legacy tech still being lugged around. Beat on top and bottom, cut guidance, layoffs. Market's lowered expectations. Price target of $50, not much left.

electrical / electronic
PAST TOP PICK
(A Top Pick Mar 29/23, Up 21%)

In the face of increasing competition, restructured its businesses. Reported extremely good numbers, stuck to guidance. Might explain why PANW selloff today not hurting them as much.

computer software / processing
COMMENT
Lam Research Corp

Equipment suppliers for semiconductor industry. Older school, cheaper than cutting-edge lithography companies. 12-month price target for LRCX of $1070, up 35% in last 100 days, great company, seems very competitive. Closest comparison would be to KLA.

Technology
COMMENT
KLA-Tencor

Equipment suppliers for semiconductor industry. Older school, cheaper than cutting-edge lithography companies. 12-month price target for LRCX of $1070, up 35% in last 100 days, great company, seems very competitive. Closest comparison would be to KLA.

electrical / electronic
HOLD
IBM Common Stock

Pretty fairly priced, price target is $194.25. One of the first on the AI bandwagon with Watson. Pretty significant play in the cloud, especially with Red Hat acquisition. Spun off hardware, now a software company. Decent runway.

electrical / electronic
BUY

Not in his fund, but in separately managed accounts. 12-month price target of $75, around 10-15% runway left. Niche is servicing on the network edge. Data centre infrastructure. Good choice.

electrical / electronic