Not Nvidia, Portfolio Manager Says He'd Pick This 'Magnificent 7' Stock In The Near Term, But Expects Jensen Huang-Led Company To Surprise On The Upside Next Week
Portfolio Pulse from Shanthi Rexaline
Portfolio manager Eric Jackson discusses his views on the 'Magnificent Seven' stocks, highlighting Apple, Meta, and Nvidia. He sees potential in Amazon due to its low valuation and plans to add it to his portfolio. Jackson is optimistic about Nvidia's future AI revenue and expects a positive surprise in its upcoming performance.
August 23, 2024 | 8:55 am
News sentiment analysis
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NEUTRAL IMPACT
AMD is mentioned as a potential beneficiary of Nvidia's success in AI, though not the primary focus.
While AMD may benefit from the AI market, the focus is primarily on Nvidia's dominance, making AMD's impact less certain.
CONFIDENCE 60
IMPORTANCE 20
RELEVANCE 30
NEUTRAL IMPACT
Broadcom is mentioned as a potential beneficiary of Nvidia's AI success, though not the primary focus.
Similar to AMD, Broadcom may see some benefits from the AI market, but Nvidia's dominance makes its impact less significant.
CONFIDENCE 60
IMPORTANCE 20
RELEVANCE 30
POSITIVE IMPACT
Eric Jackson sees Apple as a good buy due to the upcoming iPhone upgrade cycle, indicating potential short-term growth.
The iPhone upgrade cycle is a significant event for Apple, often leading to increased sales and revenue, which can positively impact the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Amazon is considered undervalued by Eric Jackson, who plans to add it to his portfolio due to its low P/E ratio.
Amazon's low P/E ratio suggests it may be undervalued, presenting a buying opportunity ahead of the next earnings season.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Meta is highlighted as a major beneficiary of AI, with strong revenue potential from its AI initiatives.
Meta's focus on AI and its ability to generate significant revenue from it positions the company well for future growth.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Nvidia is expected to surprise positively with its AI revenue, potentially boosting its stock price.
Nvidia's strong position in AI and potential large orders from hyperscalers could lead to significant revenue growth, positively impacting its stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90