My $4,600,000 Next MOVE‼️
Summary
Jeremy evaluates the current state of the market, focusing on the recent drop in IBM and its implications for the software sector. Jeremy argues that IBM's weakness was infrastructure-related rather than software-based, meaning companies like Salesforce or Palantir are not necessarily in trouble. Jeremy also discusses the South Korean market, noting that the heavy weighting of Samsung and SK Hynix makes those indices highly volatile. Jeremy remains bullish on the US stock market long-term, even if a significant correction occurs later this year.
Regarding Jeremy's public portfolio, which hit a new high of $4.68 million, Jeremy outlines specific strategies for different time horizons. Jeremy emphasizes that catalysts are needed for stocks to break out of sideways trends. Jeremy identifies AMD as the primary catalyst for the semiconductor industry in the coming quarters.
Mentioned Stocks
Reasoning: Jeremy identifies Amazon as one of the top two stocks for a five-year hold, noting it is a safer alternative to Meta but still offers significant strength.
Reasoning: Jeremy considers Meta the best stock to own for a five-year horizon. Jeremy argues that Meta has more upside potential than Amazon and is a core position in Jeremy's public account.
Reasoning: Jeremy highlights ELF's history of low-balling guidance and then consistently beating numbers. Jeremy predicts the stock will likely exit the year at over $100.
Reasoning: Jeremy states that AMD has the cleanest setup for the rest of the year and expects 'shock and awe' guidance in the next two quarters. Jeremy believes this will be the catalyst to drive chip stocks higher, potentially putting a '6 or 7' in front of the stock price.
Reasoning: Jeremy states that if forced to sell one stock, PayPal would be the choice. Jeremy notes that while it is cheap with a P/E of 9, it lacks a catalyst to excite investors and Jeremy has doubts about its ability to break out of its current range.
Reasoning: Jeremy views IBM as a fairly priced stock with a forward P/E of around 18. Jeremy argues that the recent sell-off due to infrastructure weakness does not ruin the long-term software thesis and considers it a decent buy.
Reasoning: Jeremy argues that bankruptcy or going private makes the most sense for Lucid. Jeremy believes that while the product is impressive, the company's marketing is a major failure.