Join Bill Gundersen, a seasoned money manager and president of Gundersen Capital Management, as he navigates the turbulent waters of the current stock market. With the NASDAQ’s tech stocks experiencing a notable sell-off, Bill and his co-host Barry Kite dive into the factors contributing to this downturn and discuss the potential for recovery. They explore the rapid rise and subsequent crack in stock valuations, particularly within the NASDAQ, drawing attention to high PE ratios and valuation fears.
00:37:05 Brief on Soggy Stocks and Upcoming Workshop
SPEAKER 06 :
He’s been seen on CNBC, the Fox News Channel, and the Fox Business Channel. His articles can be found on MarketWatch, Seeking Alpha, thestreet.com, and many other places. He’s the author of the weekly Best Stocks Now newsletter and the inventor of the Best Stocks Now app. He’s president of Gundersen Capital Management. Here is professional money manager Bill Gundersen.
SPEAKER 07 :
And welcome to the Wednesday. It is the Wednesday edition of the Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management. And I’m here with Barry Kite, our chartered financial analyst. We’ve got another sell-off going on, second day in a row in tech. In the NASDAQ, it’s got a drop of 300 points right now, or 1.4%. A lot of that is Intel. I believe Intel is still a member of the NASDAQ. It was down like 5% here a little earlier. The Dow, on the other hand, is just down 47 points right now. The Dow is at 44,875. And the NASDAQ is down about 600, 700 points the last couple of days. It’s at 21,013. Meanwhile, the S&P has run up against 6,500, maybe some resistance there. And the S&P is down three-quarters of a percent today, 6,365. Small caps are down 67 basis points right now. The 10-year is flat at 4.30, awaiting Jerome Powell’s big speech at Jackson Hole on Friday, if he can break away from the fly fishing. Meanwhile, gold is up a bit today. Gold’s having a decent day. It’s been soft lately. It is up almost 1% today. Crude is very weak. Crude is up 1%, however, today. And we’ve had a big sell-off in Bitcoin here. Bitcoin hit $1.22 not too long ago. Now it’s $1.12. It’s off $10,000 from its high. So welcome to today’s Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management. And I’m here with Barry Kite, our Chartered Financial Analyst and our Certified Financial Planner. And Barry, day two of a sell-off. in the market in the nasdaq in high-tech the only thing i can really point to high p e ratios and and ok get this you know how far the nasdaq has come since april of this year uh… that’s quite an astonishing number i did the math on that this morning And since I wrote that bottom article back on April the 8th of this year, the NASDAQ is up 43%. I mean, that’s in four and a half months. 43%, if you can believe that. number twelve twelve percent within one day remember when you have the announcement that uh… we’re going to have the ninety-day pause in tariffs so that was uh… that was twelve right there and we added on another thirty on top of that now in the meantime if you compare the nasdaq with the s&p five hundred during that same period of time uh… the nasdaq is up about thirty five percent uh… from that low But, okay, you get a 45% move in the NASDAQ in four and a half months, and you get some very, very rich multiples, and you have some very big profits, and you’ve got a whole lot of momentum behind it all. And I’ve been watching for that momentum to crack at some point in time, and maybe it’s starting to crack here today. On the other hand, I’m seeing some money moving towards lower PE stocks. The Dow is doing better than the NASDAQ over the last couple of days. But anyways, again, you’ve had this big, big move on the NASDAQ. Since March, April of this year, and if you’ve been getting my messages lately and reading my newsletter, I have been pointing out and I continue to point out the valuations. NASDAQ trading at over almost 30 times, over 30 times, 27 I think it is right now. On the NASDAQ-PE ratio. I’ve got to look that up. Let’s see. The NASDAQ-PE ratio. Let me get that straight. Here, hang on.
SPEAKER 1 :
32.3.
SPEAKER 07 :
32.3 is the PE on the NASDAQ right now.
SPEAKER 08 :
Yeah, go ahead. Yeah, and it’s been interesting, too. Like you said, there’s not really anything you can necessarily news-wise that you can point to it. I mean, you know, a lot of times when you get the sell-off in these, you know, higher PE names, it’s because, you know, the 10-year interest rate is rising, right, which we haven’t, you know, haven’t seen over the last few days. So it could just be, you know, a bit of exhaustion. And, you know, it’s funny. You hear all these analysts talk about it. It’s like they seem like they’re tired of the AI narrative. Yeah.
SPEAKER 07 :
I’ve kind of been liking it to a game of chicken, you know, where how high can the momentum go and hold its nose and ignore the valuation. Eventually, it cracks. And, you know, I was looking at our Palantir holding, which is up 102%, you know, in like the last four months, while the NASDAQ’s up 42%. You’ve had individual stocks within the NASDAQ that have done even more than that. So… Yeah, I was pretty busy yesterday. You know, when all was said and done, by the end of the day, now I’ll qualify this in a moment, I made 106 cells yesterday. Most of that was weeding. What I mean by weeding is we’ve had a couple of accounts came in lately that were just loaded with bond funds and soggy stocks and a lot of ETFs. I like to get rid of that stuff pretty quickly, especially the underperforming stuff. especially in a market that doesn’t have a lot of risk. It has a lot of risk. It still has reward upside, but the risk has definitely grown because of the real fast gains that have taken place. So I did the math, and by the end of yesterday, I put in 106 cells and trimmed our holdings. Now, most of those were holdings that we don’t own. But they transferred in. But I did do some trimming and some profit taking in some of our stocks yesterday. As really that was the first crack yesterday in the high tech, in the momentum of high tech stocks, high PE. And today that crack is widening a bit. So it’s not a time to be passive. It’s not a time to be complacent. because the momentum on the selling side can pick up rather quickly when you’re sitting on big profits. We’ve got a lot of earnings today to talk about here today. mostly in retail once again. Tomorrow we’re going to get Walmart, and that’s going to pretty much do it for this earnings season. All but one stock, one major stock, have reported, and it just happens to be the biggest stock of all. NVIDIA, which is cracking again today. NVIDIA was down 3.5% yesterday. It’s down 3.1% today. And again, I can’t really point to any news. But maybe NVIDIA has met its match at $4.4 trillion. It’s down to $4.1 trillion right now. And they will report earnings on 8-27. That’s a week from today, next Wednesday. And there’s definitely a crack there, a little bit of a rolling over in that chart. And that’s why, you know, I mean… And my biggest criteria are valuation number one, momentum number two, and then that visual look at stocks every day, which that’s where trouble seems to show up first. And I did see some trouble brewing. And I wouldn’t say that the fundamentals are falling apart. You’ve just got stocks that have gone a long ways in a short period of time. You’ve got a Palantir with the PE ratio over 300 and Vidia’s PE ratio is 55, which makes them very vulnerable to profit taking. And once again, I take it one stock at a time. I go through every holding that we have every day. Oh, that takes an hour usually out of my day. But it’s that part of that vigilant, the V. There should be two Vs in canceling. One should be a value, and the other one should be vigilant. I did see one worrisome out there on the world today. I saw that, number one, the EU’s inflation was fine. It was 2% in July, but what’s up with the UK? I don’t know if you saw that. The UK’s inflation rose to 3.8% in July. That’s the highest in 18 months, and that seems to be really out of whack when you look at the rest of the world.
SPEAKER 04 :
They have some energy issues.
SPEAKER 07 :
You think it’s energy? Because look at how cheap oil is right now at just $63 a barrel. Liquid natural gas is cheap. But all of a sudden, UK inflation goes up 3.8% in July. And any of the economies in Europe mirror the US more than any other. It’s UK. Yeah. All right, so I’ve got to believe that our Fed is looking at that. Now, the rest of Europe, the EU zone, which the U.K. is not a part of, was only up by 2%. But there was a very hot inflation print out of the U.K., and that may have another part of this sell-off here in the U.S. here today. Okay, when we come back, we’re going to talk a little bit about magnets, China, Palantir, and NVIDIA.
SPEAKER 04 :
We’ll be right back. We’ll be right back.
SPEAKER 07 :
And welcome back here to the second quarter of today’s Best Stocks Now show. The only strength I see in the market right now is gold and gold stocks. But it has been very weak here recently. It pretty much stalled out at $3,400. and has been pretty weak ever since. There were a couple other catalysts yesterday that could be leading to this sudden correction in tech. Very swift. This is day two. There was a big contract manufacturer. which, you know, that’s been a very strong sector. These are the guys that, you know, a lot of these AI stocks, hardware, whatnot, chips, different things, the lower tech chips and switches and cables and receivers and this kind of thing, electronics, Fabrinet. has been on a tear, and so has Celestica. Celestica has been on a tear, and they’re both very similar companies. They do contract manufacturing, so if you need something made in the way of switches, cables, receivers, which is a lot of the data center infrastructure, that company had a week report yesterday and so you know you could paint that as well you know how about some of the companies that contract out the fab or not uh… and i don’t know who all you’d have to look up who thought some of the fab or not staff and maybe look that up very during the break who are some of the offense biggest customers and so less ticket c l s those two And Seleska started to sell off yesterday. We had a big profit in CLS, and we did do something with that stock yesterday. I sent it out to everybody. But that also could account a little bit when you see a contract manufacturer for a lot of these big players sell off. You have to look upstream and wonder who’s being hurt, who could be caught up in this sell-off. And then, of course, the sell-off in NVIDIA. It was interesting yesterday that the Dow was up most of the day yesterday. nvidia was the biggest loser in the dow yesterday for a change it was down 3.5 percent and it’s down another 2.9 percent today and like again like i say again i can’t really point to any news other than it’s come a long long ways how much is nvidia up Okay, it was clear down on that April the 8th, that fateful day, it got down to 86. The stock has doubled, Barry. The stock has doubled since April. It’s amazing. So it’s gone from $2.2 trillion to $4.4 trillion. You have to put that in perspective. You know, stuff has to rest once in a while. It has to consolidate. You’re going to see profit-taking. And it’s that game of chicken. You see all of a sudden a sell-off day and some profit-taking, and sometimes it can build on itself and set off a bit of a panic. I think you’re going to see that in crypto at some point. Maybe you’ve seen the start of it. I don’t know. But when do people start to capitulate and say, man, I better lock in my gains before they’re gone? And I think we’re seeing day two of that, although I am seeing some stabilization there in NVIDIA today. But there’s really no news other than the stock is up 100% since April 8th.
SPEAKER 08 :
And Fabrinet, like you said, I mean, their largest customer is NVIDIA. That’s what I thought. Cisco is another. You know, they’re roughly just under 30%. NVIDIA is just under 30% of Fabrinet’s revenue. There you go. And, of course, Cisco, I think, is just under 20% of their revenue, so. Half of their revenue comes from two players.
SPEAKER 07 :
And so that spreads to AMD. AMD has had a two-day sell-off here. But I think, you know, that went under the radar yesterday. But I certainly took note of it because I’ve been watching Fabrinette. Normally, contract manufacturers are low man on the totem pole. They are very low PE, low margin companies. They’re contract manufacturers. They get the design of the chip and that’s all they do is they make not so much chips but other parts, low end parts, low end parts. And Celestica is in that same business. And these have been high flyers because they’re in the right place at the right time, contract manufacturers for AI components and whatnot. And I certainly took notice of that. And I had a hunch, and you just confirmed my hunch, that NVIDIA is a big customer of AI. FN, Fabrinet. And so weakness at Fabrinet, you look upstream and you go, well, maybe things are starting to slow down at NVIDIA. Well, we’ll find out next Wednesday for sure. I haven’t heard of any slowdowns at NVIDIA, but you could look at FN. Okay, now as we look at Palantir. Here’s been my observations over the years, okay? And we did take a chunk off the table in Palantir. We had a huge gain in the stock. Here’s been my observations. When a hot market comes along in the NASDAQ, March, April the 8th actually would have been kind of an inflection point. And at that point in time, Palantir was trading at, I’m going to look at the move here in Palantir and put that in perspective. We know that the NASDAQ’s up 45% since April the 8th. Palantir was 66%. It hit 166. It more than doubled. It was up 150% since March the 8th. And you just say to yourself, when will it crack? When will a crack start to appear in the sidewalk? And will that crack get wider? Well, you know, it’s trading. At least it’s under 300. It was at 330 times P.E. Everybody, everybody it would seem was buying into Palantir. and I kept warning about the high PE ratio, yet the stock continued to hit new highs. That was until… until about four days ago when it started to top out and then roll over. Big sell-off yesterday, big sell-off today. It’s down another 7.6%. And now you set off a little bit of a panic of profit-taking. Get out before my gains are gone. But usually the software sector leads the tech sector higher That’s why in my newsletter every week I put IGV, which is an ETF that is software stocks only. And it also usually leads the NASDAQ lower. In other words, when the software starts to crack… And Palantir is the poster boy this year for software. It usually leads the NASDAQ. The first signs of cracking show up in software. Now, just to check my theory, and I think it’s more than a theory, look at CrowdStrike continue to get whittled away at. We sold CrowdStrike. I did not like the way it was trading, and it continues to get whittled away at. So it looks to me like software is indeed beginning to crack and lead the NASDAQ down. Now, how deep will it go? How bad will the sell-off go? It could be a two- or three-day phenomenon. And they come running right back into it. You take one day, one stock at a time. That’s why that other V in canceling, there needs to be two Vs. One is valuation, which is coming to the fore right now, and the other one is vigilance, which I’m deploying right now. We’ll be right back. This is Bill Gunderson. Thank you for tuning in to today’s Best Stocks Now, Best Inverse Funds Now show. Now, back to the second half of the show. Thank you.
SPEAKER 02 :
And welcome back here to the second half of today’s Best Stocks Now show.
SPEAKER 07 :
Well, let’s take a look here. We talked about UK’s inflation. That’s a little bit on the troubling side, that 3.8%. Maybe that’s an anomaly, but that’s the hottest print I’ve seen in quite a while. Now, in the meantime, several Wall Street firms are upgrading NVIDIA today. NVIDIA is in focus on Wednesday as investment firm KeyBank Capital Markets and Susquehanna. raised their price targets on the Jensen Wang-led company ahead of its quarterly earnings report on August 27th. They expect NVIDIA to report strong fiscal second quarter July results and guide Q3 slightly below consensus. Let’s see, they raised their target price to $215 from $190. on nvidia and nvidia is currently trading at 170 okay so i mean if it’s going to go to 215 i i i believe it’s going to get to 215 at some point in time that doesn’t mean there won’t be some more of a correction before now and then and susquehanna is raising their target price to 210 So it obviously got more attractive. It’s getting more attractive here at 170 with the $210 price target. And then, of course, you know, the other stocks that are kind of caught up here, Astera Labs, AMD, kind of caught up in this sell-off that I’m looking to this sell-off yesterday in Fabrinet. FN is kind of a… A little bit of a catalyst. You know what else is getting weak? Talk about risk off. What’s happened to crypto all of a sudden? Now, I had a small position in my trading account. I sold it at $66. Now, I have BITB, which is a Bitcoin ETF. I think I caught the top there. Just about. It’s down to 62 now.
SPEAKER 08 :
And it had an intraday move. I think it touched like 124 for a brief moment.
SPEAKER 07 :
Yeah, 124,000 on the actual Bitcoin itself. And I felt like, you know what? I think that’s going to be the top. That’s pretty stiff resistance there. Yeah, 124,000. And now you’ve got Bitcoin down at 112,000, 113,000. So that’s about an 8% correction on Bitcoin so far.
SPEAKER 08 :
Yeah, almost a full correction, right? Kind of simple math, right at 9.6. So let’s call it a 10% correction.
SPEAKER 07 :
Yes, as investors shed riskier assets. Like I say, it’s not because there’s a looming recession. I think it’s a valuation-driven sell-off. And just like me, everyone else is also lowering their risk a little bit. I’ve been lowering my risk, lowering positions that had grown to 5%, 6%, 7% of our portfolios, bringing them back down into smaller positions. And I’ve been taking smaller positions in any new buys I’ve been making. and I’ve also been a little bit more focused on lower PE stocks right now. Walmart, here’s your weird story of the day. Walmart recalls radioactive shrimp in 13 states after FDA warning. It must have come from Japan, right? The Fukushima, they do grow a lot of shrimp over there.
SPEAKER 08 :
I’m not big on them farm, you know, thankfully growing up on the Gulf Coast and obviously living here in the low country of South Carolina for an extended period of time, I’m pretty particular about my shrimp, and I do not eat farm-raised shrimp.
SPEAKER 07 :
We have a lot of shrimp here in South Carolina. Let me tell you, those shrimpers, they just go outside of the harbor and drag those nets, and, man, there’s a lot of big shrimp here. but they cry the blues all the time about how they can’t compete with the farm shrimp. Radioactive. Well, maybe they can power a data center with radioactive shrimp. I don’t know. Just thinking out loud there. Foreign phone sales in China tumbled 31% in June. Apple still has a China problem. There’s no question about it. as they continue to lose market share to Huawei, which somehow got a lot of the technology that’s in those Apple phones lost. After all, Apple phones were being built in China by Foxconn. And, you know, the great disruption professor, the late Clay Christensen at Harvard, he said, well, you know what? You move your fabrication overseas and you risk losing your technological advantage and your trade secrets. Somebody will steal it. Yeah. Another one that’s hurting the tech is a sudden sell-off in Intel. Intel’s been the stock of the week, kind of. You had Sun, what’s the, SoftBank come through with a big investment in it. The government considering an investment in Intel. Intel’s down 7% today. There must be some news there, and that’s also, I think, driving some of this high-tech down.
SPEAKER 08 :
You nailed it yesterday, actually, because I heard a couple of other commentators talk around the end of the day yesterday that no matter the investment in the company, it’s still not a great company.
SPEAKER 01 :
I don’t think so.
SPEAKER 08 :
It’s been a dog, and it’s hard to… It’s hard to turn it around, and you mentioned it as well yesterday that just because I had a couple of clients ask, hey, should we get into Intel? It’s tempting. I mean, yeah, it’s tempting, but the fact of the matter is, number one, you don’t know if the U.S. is actually going to make that investment. It seems like SoftBank is going to make it, but it’s not in stone that the U.S. is going to make this investment. It’s just been talk. And, you know, in reality, I really don’t know if it’s a great use of taxpayer dollars in terms of return on investment. I’d rather invest in NVIDIA.
SPEAKER 07 :
You know what I do when I see a stock like that that’s so tempting because it’s so beaten down? I put a rubber band around my wrist, and every time I get the urge to buy it, I flip that thing and go, ah! And say, no, stay away from it. It’s worse than radioactive shrimp right now from wherever they’re coming from. Hey, I’ll tell you another area. I can remember once when, you remember how popular Ginny Mays were? You know, mortgage-backed securities. We had somebody transfer in a large position in a mortgage ETF, more MBS ETF. Okay, I’m going to give you the results here in a moment. But mortgage demand continues to be down as refinancing activities pull back. You hear that, Jerome Powell? We’re not doing good. Now, here’s a SPMB ETF. And, you know, I just, this is more proof and evidence to me that bond funds are a bad idea. I looked up somebody’s SPDR, S-P-D-R, which has got $6.2 billion in it, and it’s made up of, it tracks the Barclays U.S. Mortgage-Backed Securities Index. This return on that fund over the last 10 years, 1.03%. Why would you put your money in a mortgage-backed securities? Well, you’re getting a good yield. Well, that includes the yield. That’s all-inclusive. That’s everything. And, you know, you’re paying a manager a fee. Now, what does an individual Ginnie Mae do?
SPEAKER 08 :
pay right now i gotta believe it’s somewhere in the four and a half five and a half percent area right at least in in the key is at least it’s a known return right it’s like if you buy a it’s no different than you talking about those individual bonds if you buy it we buy a five-year bond today before we buy it mathematically as long as the company’s around we know hey even if we hold it to maturity this is how much the return is going to be per year right and so mathematically you know it problem is inside these funds you’re hoping for that return because you know it’s in a fund there’s no real maturity date there’s a bunch of different uh you know bonds in there other people could sell that fund which affects your return by the way all kinds of factors none of which are good right it’s basically hope yeah over the last five years you’ve lost one percent per year
SPEAKER 07 :
Now, I’m going to just extend that to the stock market. You know why all of these brokers and advisors have resorted to buying bond funds? Because it’s the easy way out. They don’t have to do any… Have you ever talked to a bond analyst? Man, there’s a lot of things to take into account in an individual bond. You know, what is their coverage ratio? Especially when you get into the munis and whatnot. But the easy way out is to buy a mortgage-backed security ETF, which has averaged 1.1% over the last 10 years. Is it any different than these people buying stock ETFs instead of individual stocks, which, you know, have given superior returns over the years versus the ETFs, if you’re a decent stock picker? We’ll be right back. And welcome back here to the final segment of today’s Best Docs Now show. President Donald Trump has bought hundreds of individual bonds. since he took office in January, worth at least $104 million in total. Now listen to this. He’s not buying bond funds. Which I’m just shocked. You know what really brought it to my attention recently was we were with some folks in Bloomfield Hills. And they had gone to one of the major banks in America to put together a portfolio. And they had them 60% in bond funds?
SPEAKER 08 :
Yeah, never – yeah, 60% in actual bond funds. And the odd thing is I don’t think we’ve had as much of a dynamic bond conversation with a client or potential client in a long time. It was somewhat astonishing in terms of the size of the – We’re not going to put any names out there, but the size of this company and the ties that they have to the bond world in general, trust me, they own a lot of individual bonds and issue a lot of individual bonds.
SPEAKER 07 :
But they put them in all bond funds. And I just started looking up the returns of those bond funds, and I go, wow, I wonder if all bond funds are like that. I had a hunch. I know they’re pretty poor, but I didn’t realize how poor they were, okay? Now, Trump has been buying corporate debt. That’s what we buy in tranches of at least $500,000 each. Now, Barry, you check these bonds out, see what they’re issuing. We’re still looking for some to fill out our bond portfolio. He put money in Qualcomm’s bonds. I’d have no problem with Qualcomm bonds. He bought Home Depot bonds. I can’t imagine they’re much of a premium over U.S. debt. He bought UnitedHealthcare. Wow. That’s probably got a little better yield. T-Mobile. Okay, that’s a best stock now. Yeah. So I want you to check that one out. You’re writing these down. And Meta. Don’t we own a Meta bond?
SPEAKER 08 :
No, we own a Netflix bond that we’ve had in Broadcom and Micron, so it kind of ties into the Qualcomm deal. I think in the past we’ve owned a Verizon bond, which kind of ties into T-Mobile. Meta, I think I’m pretty sure the yield on that is going to be pretty low, a lot like a U.S. Treasury.
SPEAKER 07 :
Well, I’ve had many people over the years tell me, Bill, if I could just make 5%, 6% a year, I’d be happy. You know, look, I’ve made all this money. I don’t want to lose it, blah, blah, blah. Well, I mean, you’re not going to do that with bond funds. I mean, I’m showing 1% to 2% returns over the last decade on average. And, you know, whereas the individual bonds, which I guess we’ve lost the art of buying individual bonds. We certainly employ it here at Gunderson Capital. We would never put anybody in a bond fund. We go out and search the world over. Now, T-Mobile would be a very good one to look into because it’s also a best stock now. So check into Qualcomm and T-Mobile.com. and Meta. See if they’ve got any bonds out there for sale, okay?
SPEAKER 08 :
That’s kind of the interesting point, right, is the fact that when they ask, how do you guys find companies from a bond perspective, the first place we look at is really how does the equity, how does the stock rank, and of course… The thought is if you’re okay buying the stock, you certainly should be okay buying the debt because you’re further up the capital structure ladder. So that’s the starting point, and then we go from there and depend on what the yield is.
SPEAKER 07 :
Well, it’s like you say. I mean, it’s pretty much a known outcome. You can never say it’s a 100% guaranteed known outcome. You know the term of the bond. You know the company that backs it. You know what the coupon’s going to be. Now, some of them have call. They can call it or they’re callable before the maturity date. But for the most part, we’re in that five to seven year range. We don’t want to go out much further than that. And in the interim, it is liquid. If you need to sell it, How much volatility? I watch these individual bonds that we own trade. I mean, they range about $0.13 maybe. They usually trade right around maybe up $0.15 here or down $0.25. And we’re talking $99 twice, right?
SPEAKER 08 :
Yeah, and if you need to liquidate one, we’re going to look at, okay, let’s say it’s a bad time to liquidate bonds. We’re going to look at which one has the shortest maturity period. Those are the ones that are going to be less affected by interest rates. Like you said, they have the least amount of volatility. The good news is math plays a big part of owning bonds versus a stock. Math is involved, but that math can go in a bunch of different directions.
SPEAKER 07 :
Yeah, and some people don’t have the stomach for Palantir and Nvidia and CrowdStrike and these kinds of stocks and would be happy having a big chunk of their money just in individual bonds. If it’s good enough for Trump, whose net worth is estimated these days to be at 5.5 billion.
SPEAKER 08 :
I saw that, yeah.
SPEAKER 07 :
I think he’s done pretty well recently with his IPOs and his crypto investments. We’ve got to talk about a couple soggy stocks before we leave you. Target is a very soggy, horrible stock. Down again another 8%. They have never recovered from some of the missteps. It’s a tough business. On the other hand, Lowe’s had a pretty good report. It’s up 1%. But, you know, you’re looking at single-digit growth at Lowe’s. Sales up 2%, earnings up 4%. Not my cup of tea. And the other one is a soggy semiconductor stock, which is analog devices. It’s a very low-tech semiconductor, but they had a phenomenal report. Earnings up 25%. Sales up 25%. Earnings up 30%. That’s one of the best quarters I’ve seen in a long time from analog devices. So things can’t be too bad in the chip sector. And the last one I’m going to mention here is TJ Maxx. which has been one of the better retailers over the years. It’s up 3.9%. So the consumer not going to Target these days, going to TJ Maxx instead. And a lot of folks signing up for the workshop on September 15th in the Santa Clara area. It’s filling up fast, and those appointments are filling up fast. We’ll be there Tuesday, Wednesday, September 15th and 16th in the Santa Clara at the Marriott there. To reserve a spot, give us a call at 855-611-BEST, 855-611-BEST to get a four-week trial. To the very vigilant alerts right now, go to GundersenCapital.com, GundersenCapital.com. And I think the app’s going to be very, very useful here going forward as we seem to be seeing some market rotation taking place these days. All right. Have a great day, everybody.
SPEAKER 05 :
All accounts are held at Charles Schwab. Schwab is a member of SIPC and FINRA.
