I think it's oversold. I think all these names guys are strong continuation plays.
Context
ASML just reported earnings the stock crushed it or the company crushed it the stock's down but I think it's oversold. I think all these names guys are strong continuation plays.
That would be the time in my eyes to buy, you know. That would be a great buy.
Context
I think Micron this probably has a little more downside... That would be the time in my eyes to buy, you know. That would be a great buy.
Full Transcript
All righty, guys. Here we go. We have five stocks to break down today, all of which are pretty oversold as the entire market, man. Let me tell you, is moving all over the place. So, guys, let's just dive into it. Hit the like button. Make sure to subscribe. Check out my Patreon if you want to keep up with my actual portfolio updates. And if you want to be a part of my private Discord, it's all linked down below, pinned in the comments, or go to stockserfest.com/patreon. And now, cheers, guys. Take a sip of your coffee, and let's dive into it. So, as of right now, it's about what? Noon on the East Coast, and every index, again, is all over the place. The S&P slightly down. The Qs are down over 1%. So, rough day for tech. But the funny thing is, guys, a lot of big tech is up. Amazon Apple Alphabet Microsoft all those stocks are moving. But a lot of these memory, AI names, some of them at least, are selling off, dragging down the Qs as the Dow is actually up 0.1%. Same with the Russell. But those gains are actually slowly starting to wither away as Bitcoin is up almost 1%. And clearly, the Qs are still trading in this downwards channel, which we have been now for for a couple [clears throat] of weeks. And the S&P 500, looking at SPY, is holding right around 750, but it's holding by a thread. You know what I mean, guys? This might be right back under these moving averages at this rate pretty soon. But then again, we got a great CPI reading yesterday, which caused the market to run. And even though we're seeing some red today, I feel like that CPI reading, you know, could cause the market to run over the coming days, right? Over the coming weeks, especially if we get more, you know, more language from the Fed. You know, we'll see what war says in the next meeting, you know, depending on how that goes. And of course, what President Trump talks about and yada yada. There's a lot that's going to happen there. But the fact that inflation is starting to come down a little bit, that's a very good sign for the overall rate cut narrative, which, you know, that's going to help the overall stock market. We all know that even though it's down now, it's it's a it's a it's a good thing for the market over the coming weeks, months, if inflation continues to come down. As you guys know, you know, you all know that already. So, if we look at some of these stocks, let's just dive right into it, guys. I don't want to waste any time in this video. Some of these companies have earnings very soon here. And we actually just got a report from ASML, which we'll cover later in this video. We we have to break down those numbers, guys. It's earning season. It's the best time of the year, right? Well, I guess we we get it four times a year. But it's always the best time for the stock market, man. And Corning right now, I think is way over sold. It's way over done. Ticker GLW is down another 10% today. And to me, it's like it just getting thrown into these, you know, AI stocks, all these different names that are getting hit. It's just in that bunch right now, and there's a lot of short-term weakness, but I think it's an opportunity for the mid to longer term, right? Again, a lot of these memory, AI, the optic names, optics, right? You name it, the pick and shovels plays, you know, they're getting nailed today. They have been the last couple of weeks. Even if you look at big tech, and you're like, wait, big tech's up. What Why are these stocks getting hit? A lot of these stocks ran a ton, guys, from memory to optics to overall AI to the picks and shovels. Now we're getting some short-term weakness, and you'll notice all these charts still look very good. Corning being one of them. It's down now $100 a share from that recent high. We hit 270, now we're at 170, and it's like for what? I mean, yeah, maybe it got ahead of itself a little bit, but for it to be down 40% in 20 25 days, I think it's a bit overblown. So, for me, I'm looking at GLW, and I own it, right? I'm in this stock. I most recently bought shares in the mid-high 170s, and I am down on my position, but I'm willing to hold it out. I'm willing to ride the waves. And that's what you guys have to realize when it comes to a lot of these, you know, momentum stocks, >> [clears throat] >> these high-growth stocks that are uptrending in the AI trade. We're we're going to see some vicious pullbacks, and you got to have the stomach to to hold through and the guts to buy more where you see fit. So, for me, that's where I'm at with Corning right now. It sucks in the short term. It's getting nailed in the short term, uh but I still believe over the coming weeks and months at this point, Corning, a lot of these other AI plays, memory, you know, the picks and shovels, all these are going to start coming back. I don't think it's over yet. I don't think this is the top. I don't think we've seen the top. You know what I mean? Maybe I'm wrong, but we have earnings coming up, and this could change things for Corning and a lot of these other, um you know, names in the space, right? Once earnings come out, this could cause the stocks to rally, especially if they're so oversold heading into earnings, which they are. Corning has earnings on the 28th, so about 2 weeks. Yeah, not next Tuesday, but the Tuesday after that. And they're expecting EPS on average of $0.75 versus $0.60 from last year on revenue of $4.63 billion versus $4.04 billion from last year. That would be up around 14 15%. And look, I think I think there's no doubt in my mind Well, I know there's no doubt in my mind. Uh but I'm not, you know, you you can't guarantee anything. But in my opinion, I think we're going to get a rally. Whether it's before earnings, after earnings, I just think we're way too beaten up here. The stock still looks good. The fundamentals are intact. It got a bit of, you know, a bit ahead of itself. Now we're getting, um you know, a bit more oversold. So, you know, got extended on the one side. You know, the selling got a bit or the buying got a bit crazy. Now it's getting a bit a bit extreme on the flip side. And I think we're due for a big snapback on GLW. And Tesla is another one. Maybe not as oversold as GLW, but this one, guys, in my opinion, we're gearing up for another big move on Tesla. It's almost so predictable, right? It's almost like each time it goes down under $400, at least this is how it's been over the last couple of weeks. Each time it goes under $400, it's an automatic buy because it snaps right back to 410, 415, 420. And I think this time's no different. We have earnings coming up on the 22nd, a week from today, we have Tesla's earnings. We have an inverse head and shoulders pattern, clear as day. And I believe, look, this will be a low mid $400 stock before earnings. I think we're going to get a pump before earnings, and maybe after, depending on, you know, what Elon does, if he works his magic, you know, that's what I'm looking for on Tesla, and I'm long Tesla as well, and they're projecting EPS on average of 50 cents versus 40 cents from last year on revenue of 25.83 billion dollars versus 22.5 billion dollars from last year. That would be up 15% year-over-year. Pretty good, guys. Pretty good. And I'm telling you, each time Tesla seems like has got down under 400, it doesn't last long. Uh, you know, and this inverse head and shoulders is clear as day. I'm excited about it. So, PayPal, let's talk PayPal. It's not that oversold anymore, uh, but I figured let me throw it in this video because we got some big news. PayPal's now, um, up 16% on the day, and I guess if you pull the layers back, uh, to be fair, it is it is oversold. It's very beaten up on this 3-year chart, on the max chart. I mean, guys, all-time highs were $300 on PayPal, and you might be like, "Stas, why is it up 15, 16%?" I'm glad you asked. Well, it's because we're getting rumors of a buyout. Let me actually pull this up, and this is crazy considering, uh, PayPal, you know, used to be at the top of the game. They were crushing it when it comes to, you know, being, um, whatever you want to call them, fintech, uh, you know, payment solution, whatever. PayPal was insane in the 2010s, man. Insane. And now it's I mean, it's been struggling to the point where they're looking to get bought out. Stripe Advent make a $53 billion dollar takeover offer for PayPal, sending the stock going, uh, you know, going vertical. The stock's going ballistic now because of this. Stripe and Advent International made a joint offer to buy PayPal in a deal valued at 53 and a half billion dollars and the companies made a $60.50 per share offer cash offer for the payments firm according to people familiar with the deal who asked not to be named because the details are of course private and Stripe Adyen Block are contributing 17 billion dollars in equity for the offer according to the people and PayPal's board will meet as soon as July 20th to discuss the offer according to the people. So we're getting that that big news for PayPal which I can't remember the last time PayPal has seen this type of move 15% in a day. I can't remember, right? And who knows maybe this continues to run but I don't think it's going to run much past $60, right? $60 is where the offer is and typically when you get these buyout offers, right? The stock's not going to run past 60. I mean I mean it could it could go to 65 70 but keep your eyes on it. Either way PayPal they have earnings coming up the buyout offer big news for them guys and ASML just reported earnings the stock crushed it or the company crushed it the stock's down but I think it's oversold. I think all these names guys are strong continuation plays and ASML let's see what they did here reported EPS of $8.82 cents or I guess euros versus the 798 expected on sales of 10.84 billion versus 10.28 billion. So nice double beat out of ASML and again, it's simply a continuation play. We're riding well I guess we're under these moving averages but we're holding the uptrend. Everything's looking strong. We just got to be patient. You You what I mean? We just got to be patient on pretty much all these stocks. And let me show you Micron today, man. Micron is at 880. I wasn't I wasn't going to talk about it in the video today, but it's almost too beaten up not to. This thing is at 880. Bears probably going to cover soon. >> [clears throat] >> That's the reality. I think Micron this probably has a little more downside. I mean, we called out the head and shoulders a couple of videos ago. So, we're not surprised that it is going down more. I'm honest if this head and shoulders really plays out Micron could be going down low 800s, maybe mid high 700s. That would be the time in my eyes to buy, you know. That would be a great buy. But it's just blood in the streets right now, man. You name it. Memory, optics. Now GLW is down to 168. I mean, these are all buys and holds in my opinion if you have money to put to risk. If you have the stomach for it, yeah, if you if you're able to ride through volatility and SK Hynix is another one, the last one for the video, which went nuts yesterday, guys. SK Hynix was up 25% and you guys know the ADRs just started trading a couple days ago. And now we're down 13% today on on SK Hynix, SKHY on the Nasdaq. And I think this is also oversold. They're trading at eight times forward earnings, probably less now with today's drop. And in my eyes, it's a great opportunity. So, overall, look, you might be panicking about AI memory stocks, but you got to look at the year-to-date charts. The year-to-date charts will put you at ease, you know. People are getting so used to this quick money. You buy a stock, it goes up the next day. That's not how it works, man, in the grand scheme of things. This market's nuts. You got to get used to some downside, you know? The with all the upside we have, you got to get used to these pullbacks. And we're in a pullback phase, and I don't think it's going to last much longer. So, take advantage if you have cash to put to work. If not, just hold. That's what I would do, right? So, let me know your thoughts in the comments, guys. Hit the like button, subscribe. Join my Patreon for my portfolio updates and for my private Discord community, if you guys want. That's linked down below, pinned in the comments. Or go to stossurfest.com/patreon. And with that being said, I'll see you guys later.
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