Latest Investor Conference Takeaways Support These Holdings

We’ve been sifting through presentations and transcripts for various company presentations at investor conferences being held this week, including the Goldman Sachs Communicopia conference. It’s part of our regular homework for the Portfolio to check in on not only the companies we own in the Portfolio, but on their customers, competitor and suppliers.

Here’s what’s caught our eyes so far this week and, as more presentations are given, we’ll share more nuggets as we identify them.

Cisco

Scott Herren, CFO at Cisco CSCO, reiterated expectations for $1 billion of AI product orders in fiscal year 2025 and noted that the investments being made by enterprises in AI infrastructure are not included in it.

Herren also noted that “enterprises are spending to be AI ready,” refreshing their core infrastructure, and called our four $100 million deals Cisco inked in its latest quarter. We take that as a positive for our Marvell MRVL shares.

Microsoft

Microsoft MSFT Chief Technology Officer Kevin Scott hinted at an important, new AI model or product emerging before the end of the year. Other comments from Scott included, "I think we are on the path of gains. You are not wrong to suggest there are some disrupting things coming" and "I would encourage folks not to get too swept up in hype, but AI is getting more powerful…"

But it was Scott’s comment about digital infrastructure that caught our attention: "So far, demand for the infrastructure has materially outpaced our ability to supply it even as we are building at a pace unseen…”

More positives for Nvidia NVDA and Marvell shares.

Alphabet

Google GOOGL Cloud CEO Thomas Kurian shared that the business is “capturing customers faster, doing larger deals, and customers have increased their adoption of our products by 30%...”

That comment suggests Google Cloud, while only 12% of Alphabet’s overall revenue, should continue to grow at a brisk pace.

Morgan Stanley

Daniel A. Simkowitz, co-president at Morgan Stanley MS, shared that the firm’s investment banking pipeline is “accelerating” and it is “in the early stages of a multi-year capital markets recovery.”

Simkowitz went on to say, “Our conviction that in the case of those two categories, IPO market, M&A market ramping up in 2025 and 2026, I would say that's still really high.”

That supports our thesis on MS shares, and the shares on our shopping list as we approach the Fed’s upcoming policy meeting. From a technical angle, MS shares have fallen below their 100-day moving average at $97.86, and the next layer of support is near $92.

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At the time of publication, TheStreet Pro Portfolio was long MRVL, MSFT, NVDA, GOOGL and MS.