Top ATAs 5/27
May 27, 2023
Happy Saturday! Here are the top questions from Ask Titan Anything this week. As always, reach out to us if you have any questions.
A: Is there a specific country/region that is looking like the early standard bearer for AI and AI Stocks. If so, does that factor into our picks?
Though we're still very much in the early days of AI development (no actual pure-play AI companies have IPOd yet), the current landscape indicates that the US is leading the pack. As investors, the implications of AI are factored into our analysis and theses for certain holdings, specifically our semi names such as Advanced Micro Devices (AMD) and ASML — semis are the picks and shovels that enable AI. Companies such as Microsoft, Google, Meta, and Amazon have also reaped the benefits of the recent AI hype as they continue to integrate new AI-driven features into their products. As we move forward, our investment strategy will remain informed by the evolving implications of AI.
Q: Are there any plans to hedge against the uncertainty surrounding the debt ceiling negotiations?
We exited the hedge in Flagship last week as our technical sign posts indicated that there was a high probability of continued uptrend in the markets. Although it's not us calling a bottom, we believe that it was a prudent decision in an effort to capture more of the potential upside of market moves. Never say never, but we don't foresee the need to leverage the hedge ahead of debt ceiling negotiations. With that said, one of the key advantages of active investing is that we can make quick decisions and we plan to be aggressive if the opportunity presents itself.
Q: Thoughts on Nvidia and their success? Any plans to buy?
Nvidia reported stellar earnings after the bell on Wednesday and the market is impressed. The stock is up 25% as of writing and that's after the company has added $400 billion to its market cap. The company guided that Q2 revenue would come in at 11 billion vs the 7.2 billion in expectations. This is an amazing business that's about to be one of the biggest benefactors of the AI super cycle. The company was trading at 175x their P/E before the big gains after hours but this has been on our radar for a while. If there happens to be a pullback, we will revisit this name.
Ask Titan Anything is intended to be informational in nature and does not take into account the specific objectives, financial situation, or particular needs of any specific person. Nothing in this content should be construed as investment advice, or a recommendation to buy or sell securities.
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