In This Month's Members-Only Call, We Go Stock by Stock
For those members who missed the call, here's a recap of the major topics including what we're watching, and our favorite stocks.
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The Action Alerts PLUS' October Members-Only Calltouched on our positions, favorite stock holdings, a member's question about holding Coty COTY , our Pepsi PEP strategy ahead of the holidays, and more.
Hosting the call was TheStreet's Editor-in-Chief Sara Silverstein with lead portfolio manager Chris Versace.
Silverstein queried Versace on the portfolio, and on what's his favorite "One" ranked stock.
Amazon AMZN in the near-term and Applied Materials AMAT over the longer-term, were Versace's picks.
For club members who missed the call, other highlights include:
- When companies like Intel INTC and Taiwan Semiconductor TSM report their quarterly results, we will focus on capital spending expectations and capacity utilization levels and compare with AMAT.
- Sticking with Taiwan Semiconductor, its September-ending quarter revenue report and what it says about smartphone and high-performance computing demand will be the next catalyst to watch for our Qualcomm QCOM , Universal Display OLED , and Marvell MRVL shares.
- While the outlook remains favorable for Lockheed Martin LMT , Elevance ELV , and to some extent, Axon Enterprise AXON shares, in the very near term recent developments in Washington may keep them range-bound.
- We recapped why we remain bullish on the shares of United Rentals URI . We also shared we are looking for confirmation in September rail car loadings for aggregate demand, something that could lead us to boost our rating on the shares of Vulcan Materials VMC .
- We also spent some time discussing what keeps us up at night, which is the potential for the Fed to realize it may need to do even more to combat persistent inflation. If the Fed signaled more than one additional rate hike is on the table, we would see yet another re-think about equity valuations, debt servicing costs, and renewed worries for a recession. As of now, that risk is on the low side, but we will continue to mine upcoming data and revisit that probability as needed.
- The topic of risk management was a big one on this month's call, with a focus on what we learned from our recent exit of ChargePointCHPT and American Water Works AWK . We revisited what would lead us to exit Clear Secure YOU shares and the warnings signs we are watching for SPDR Gold Trust GLD shares.
- We also shared a fact about Costco COST that member should find rather interesting.
Much more was discussed on the Members Only call, and if you missed the live broadcast, you can find the replay and eventually a transcript of the call here.
AAP is long QCOM, OLED, MRVL, LMT, ELV, AXON, URI, PEP, COTY, COST, GLD, YOU, VMC URI, AMZN, AMAT.