I Just Bought Two NEW Stocks

Joseph Carlson After Hours•Jun 22, 2026

Summary

Joseph presents a thesis that the stock market is currently dominated by 'AI bottleneck' stocks and momentum investing, leading to stretched valuations in semiconductor and infrastructure companies. He believes that while these companies are fundamentally strong, the excitement has caused their stock prices to outpace their actual growth. To capitalize on this, Joseph is 'zagging' while the market 'zigs' by investing in quality growth companies that have been left behind. He plans to continue this strategy through 2026, focusing on businesses with durable revenue and high-margin subscription models.

Joseph specifically discusses his recent portfolio changes and outlook on the following stocks:

Uber: Joseph highlights Uber’s massive scale, noting it completed over 14 billion trips in the last year and has a dominant 70% market share in US ride-sharing. He emphasizes the high-margin nature of its subscription service, Uber One, which now boasts 50 million members and helps drive consistent free cash flow. Despite concerns regarding autonomous vehicle (AV) competition from Waymo, Joseph believes Uber’s status as a dominant aggregator makes it a winner, and he views the current price in the $70 range (down from $100) as a buying opportunity.

DoorDash: Joseph describes DoorDash as a faster-growing counterpart to Uber, with revenue increasing by a staggering 56% recently. He points out that the company has reached profitability, generates $1.75 billion in free cash flow, and maintains a 60-70% share of the US food delivery market. He recently initiated a $10,000 position and intends to increase this to a mid-sized holding of $30,000 to $40,000 over the coming months.

ASML: Although Joseph considers ASML a 'monopolistic' and structurally stronger company than a year ago, he recently executed a 10% trim of his position to lock in massive gains. Having bought shares at an average price of $724, the stock's rise to $1,900 pushed its valuation to a 54 PE ratio, which Joseph feels is ahead of fundamentals. He still maintains a $150,000 stake, stressing that he is not bearish but simply reallocating capital to undervalued areas.

Alphabet (Google): Joseph addresses the recent 6% decline in Google's stock price, which he attributes to investor overreaction following the departure of high-profile AI researchers to competitors like OpenAI and Anthropic. He argues that Google’s true moat lies in its 'full-stack' development and massive distribution network (YouTube, Gmail, Android) rather than individual employees. He believes the company will continue to win the AI race through its infrastructure and ability to iterate and deploy models at scale.

Mentioned Stocks

ASML

Sentiment: HOLDAction: SOLD

Reasoning: Joseph sold 10% of his ASML stake last week to reallocate funds into Uber and DoorDash. While he remains long-term bullish on the company's monopolistic position, he noted that the stock price (which he bought at $724 and is now near $1,900) has raced ahead of fundamentals, reaching a 54 PE ratio.

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GOOGL

Sentiment: BUYAction: RECOMMENDED

Reasoning: Joseph views the 6% drop in Google's stock as a 'ridiculous' overreaction to talent exits. He argues that Google's moat is built on its massive infrastructure and distribution capabilities (Gmail, YouTube, Android) rather than specific researchers, and he expects future earnings to prove the company is still an AI leader.

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UBER

Sentiment: BUYAction: BOUGHT

Reasoning: Joseph recently bought $10,000 worth of Uber, citing its dominant 70% market share and the growth of its Uber One membership to 50 million users. He believes the market is overestimating the threat of autonomous vehicles (Waymo), allowing him to buy a high-quality company at a discount (currently in the $70 range compared to its $100 high).

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DASH

Sentiment: BUYAction: BOUGHT

Reasoning: Joseph initiated a $10,000 position in DoorDash, noting its 56% revenue growth and dominant position in the US food delivery market. He highlights that the company is now free cash flow positive ($1.75B) and has 35 million DashPass members, making it a durable growth play that has been 'left behind' by the AI hype.

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