저자: NancyTengler · 외국인
요약 보기
브로드컴은 장기 보유 종목이며 AI 가이던스 상향 및 소프트웨어 사업 비중(VMware 인수 효과)을 근거로 장기적으로 좋다고 평가. 엔비디아는 PEG 1배 수준으로 밸류에이션 여유가 있고 최근 추가 매수했다고 밝힘. 테슬라는 PEG 약 4배로 상대적으로 비쌈. 마이크로소프트·아마존·구글은 PEG가 정상 수준이며 최근 마이크로소프트 비중 확대, 아마존은 10년 최선호주로 제시. 7월 매도 후 일부 재매수.
다듬은 글
let's do some trading and let's talk some tech Nancy tangler joins us this morning let's talk some broadcom and more Nancy it's always great to see you CEO and CIO at laford Tangler appreciate you being here oh gosh Oliver it's so good to be with you again broadcom seems like a sort of blast from the recent Nvidia past where uh when that stock was first taking off you'd get these massive price moves in the shares but the valuation would actually go down because the earnings were so big and from what I can see that happened to broadcom too right yeah absolutely absolutely you know I think we've talked about this before that we've referred to broadcom which is a long-term holding for us member of our 12 best ideas we've referred to it as the poor man's Nvidia and uh in fact I think it finally graduated the guidance that hawan gave was um unexpected and because he hasn't really done that in the past but also explosive and his enthusiasm is really what drove the stop okay the uh potential here for a kind of broader Market trade to uh repeat the first half of the year uh when Nvidia was basically driving all the semiconductor stuff what do you think the odds of that are because other than like broadcom the Simi trade has been pretty slow for the last uh couple months yeah and actually think that's okay I mean I think we need to consolidate from time to time uh if you look at nvidia's backlog uh if you just kind of pay attention to the anecdote like the one that Larry Ellison uh shared where he and Elon were at dinner with with Jen and just kept saying please take more of our money um I think if you pay attention to who's spending and how much they're spending that the stock will rally again and if you look at it your point was absolutely correct that as um earnings went up you know the stock price went up but not as much the PEG ratio price earnings to growth on this particular name is just a little bit over one times and I'm I'm speaking of Nvidia here so uh you know you compare that to Tesla which by the way we also like and you know it's trading above four times so there there's plenty of room I think you know recalibration is never a bad thing and it gives some you know those who aren't in the stock a chance to get in and those of us who own it we just actually added to our position uh I think it was last week or the week before uh I love that um the way you describe it was kind of the Poor Man's Nvidia not anymore after graduating from this report the uh potential growth from AI it seems to uh is important to see it in broadcom because these are you know very different prods than than Blackwell and stuff it's it sounds like we might have finally found a real like tangential trade yeah well and also don't forget half of this company is software and hawan has been kind of masterful in previous Acquisitions uh CA Technologies which used to be computer Associated he acquired that in 2018 and it was in a creative acquisition within a year I mean you don't see a lot of CEOs able to pull that off VMware uh kind of the same thing you know it's ahead of schedule the integration and that adds depth and breadth uh and fills in the gaps when the cyclical semiconductor business you know kind of wanes so I I like this company for the long term for a whole host of reasons they raised the dividend 11% a little slower than the past but they're using free cash flow to pay down the debt on the VMware acquisition so I I I don't you know I don't think you can argue with htan about anything we call him hwan the man I love that um he's also got a pretty great record of picking the right companies to include into his Zone to your point with VMware now that they've got big Revenue growth coming and they're uh Breaking Free of whatever kind of debt overhang one might have been able to argue do you feel that they might be looking for other potential Acquisitions or do you think they got enough on their hands uh uh trading the AI Market on their own I think he's always looking and I think that's a good thing when you have his track record of integration I think it makes sense to do Acquisitions and even bolt-on but he's actually done big acquisitions historically so I I think he was asked that question on the call if I recall and he just said basically we are always looking and that that's that should not scare shareholders you know Wall Street if it's not their idea uh they tend to punish the stock in the short term that's actually when we got into the stock in 2018 when they did the CA Technologies deal and Wall Street was up in arms and that that gave us an opportunity we've held it ever since okay uh you mentioned the PEG ratio for NVIDIA uh for broadcom where is it at uh I think it's about the same I have I don't have it handy but I think it's pretty close to the same and you know now we've got another trillion dollar company which is which is just kind of mindboggling whereas like a Tesla your peg price earnings of growth is like what like it's like three four times what broadcom and a video are GNA be yeah about four times yeah and and you know that's a story stock it's an icon stock um and it's an AI stock as well but if you look across the board you know the big beneficiaries next year should be the software providers so think Microsoft Amazon and Google and their Peg ratios are pretty normal 1.2 um you know times one times so we we've been adding we just recently added to Microsoft we'd been selling all the names in July uh early July not because we knew there was going to be a tech summer Swoon but they just got way overweighted including broadcom uh and and and then we've added back to some of them and one of those is Microsoft Amazon's our top pick for the decade um we we gave that in an interview in 2023 and we think it continues to grow pretty robustly great stuff Nancy appreciate the data the facts and the perspective as always thank you very much thanks Oliver
댓글 0