Closed Positions: High Conviction Model
S&P 500
The S&P 500’s forward annual earnings per share are tracking at $260, $100 higher than six years ago. The P/E on a forward estimate is 23x. The earnings yield is 4.39%, nearing the June 2020 low of 4.11%.
Crypto Large Cap
Our Crypto Large Cap model portfolio is up over 80% in the last 12 months.
Pinterest’s Q3 FY24 earnings showed 18% YoY revenue growth.
Okta
Okta, Inc. – Class A Common is under Algo Engine buy conditions.
Okta is a leading company providing cloud-based solutions for secure user authentication and identity management.
NXP Semiconductors
ASX:NXP is under Algo Engine buy conditions. NXP Semiconductors is navigating a cyclical downturn, particularly in the Industrial, IoT and automotive markets. Despite this, we see value within the $200 – $220 price range.
NXP Semiconductors released its Q3 FY24 on November 4th after the market close, reporting a 5% year-over-year revenue decline.
NXP Semiconductors is guiding for $3 billion-$3.2 billion in revenue for Q4, which a 9% year-over-year decline.
Qualcomm
QUALCOMM Incorporated – Common is under Algo Engine buy conditions.
Qualcomm reported $33.19 billion in total revenue in its fiscal 2024, a 9% increase from 2023.
ASX200 Trade Table
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Meta
META:NAS is under Algo Engine buy conditions and remains a current holding, up 100% after a 444-day holding period.
Meta reported better-than-expected Q3 earnings on the top and bottom line, growing revenue at double digits. Meta outperformed other big tech companies by a large margin.
Amazon
AMZN:NAS has switched to Algo Engine sell conditions, and our holding was sold after generating a 47% return across a 363-day holding period.
Amazon’s results beat expectations, especially on the bottom line. However, the company’s business growth was weaker than that of Meta Platforms, Google, and Microsoft. Amazon is trading at a relatively elevated valuation, with an earnings multiple of 40x.
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