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Monday, September 17, 2018

Tesla's Stock About To Turn Up

Here's the famous vegetable turn up.
Whoops Turnip, never mind.
We've been patient for Tesla's stock to start turning up. It may be happening. We called out a 280 support. It appears to have held.

Today was also nice. You had "bad news." Oh no Lucid and oh no they have to deliver way too many cars and Musk is whining about it. It's such a terrible calamity of course to have to deliver so many cars, right? Not really.

Ford and GM wish they could be crying on Twitter that they have to deliver way too many cars. Oh no, right?

And in the face of all that "bad news" the stock opened down and managed to crawl its way back to up all day. That's also in the face of a market that got nailed into the close.

So you had bad news today and the stock worked its way up all day to flat in a down tape. That's great action.

Tesla gets our official Turnip award for starting to turn up. Production, delivery and earnings reports around the corner with no-go-private news apparently behind us. Turn-up.

Quick quiz:
Having way too many cars to deliver is:
A) Terrible because as a reporter you have to put a negative spin on everything.
B) A big problem because you'll probably make too much money which will cause pay-down debt hell.
C) A sign of lack of demand for Tesla which means they must be going bankrupt very soon.
D) Really a very nice thing that most car companies could only dream of.
Answer in comments.

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We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

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All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

Sunday, September 16, 2018

Would You Pay 11X For Tesla?

This isn't easy but try to figure out why
we used this pic. No hints. Comment
in comments.
Would you pay an 11 PE for Tesla stock? Why not right? Ford and GM trade at low multiples. But Tesla's about to have blow out earnings growth starting in Q3 as per their guidance.

We're at about $27.00 in earnings for 2019 when factoring in 1) the gross margin ramp they saw in S&X in Q2, 2) their Model 3 unit plans through 2019 and, 3) the company's gross margin targets for Model 3 which Musk reviewed on Q1 and Q2 earnings calls.

The stock price of $295 divided by our $27 gives you an 11 PE. Not bad, right, for one of the best earnings stories that exist today.

Two things that most did not notice but should have last quarter was the huge jump in S&X gross margins in Q2. They were up about 1000 basis points. They reached into the high-30s. That gives you some visibility that Model 3 margins also have upside.

Again, high-30s% gross margins for a car company? That's not huge?

BMW and Mercedes are about 20% while the US manufactures are lower.

Musk's focus on the machine being the production was proven out in that high-30s number for S&X. But you needed to back into that number, they didn't outright say it. And who would want to go through that one extra step to try and figure that out? It's probably the most important piece of their Q2 report.

Units are hitting the steep part of the S-curve Elon Musk has waiting for for some time. That steep part of the S-curve is causing blow out gross margins company wide.

You have too many bears rear-view mirroring it while earnings are about to explode starting this quarter, potentially.

In our experience what drives a PE are inventory turns and gross margins. The higher the both are the more a dollar of investment can turn-over so that dollar, so-to-speak, is worth more. That gives you a higher PE.

So we think Tesla's PE should be closer to 50X, not 10X given its market leading gross margins. If they ever decide to drop price competitors are toast. Also what traditional manufacturer is going to want to mess up their earnings by scaling EV losses that Tesla now has behind them? It's not an easy business decision.

Much like Netflix and Amazon spending big first, others are left to play catchup but never really catchup.

50 X our 2019 $27 = $1350. That would be nice, right? (Street's at about $2.90 for 2019)

Quiz?
So why'd we use that pic up there?
Answer in comments.

Looking For Tech Earnings Home Runs

We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

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All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

Sept 16, 2018 correction: picture change.

Friday, September 14, 2018

Semiconductor and Tech Macro Review

We had pointed out risks in semiconductor land about a month ago. Since then there's been a battle in these stocks with rallies getting sold.

Fundamentally Bullish

Fundamentally we're bullish in tech and semis. Our work still shows that there is strong demand at the datacenter and the enterprise.

Cloud hyperscalers are still aggressively spending especially with strong Cloud growth. Enterprise customers are really accelerating acceptance of off-prem cloud offerings as we saw with Azure and AWS growth last quarter.

Semiconductor sell-in to these cloud offerings, we'd guess has not slowed despite fears.

Memory Fears Not A Sign Of Tech Weakness

The slowdown in DRAM and NAND prices has spooked investors that there could be a tech slowdown or a semiconductor cycle peak.

We think that memory price declines are more based on supply catching up with demand for DRAM.  Apple unit weakness earlier in the year took the wind out of NAND. Apple also pre-bought commodities early and didn't see the unit demand which also hurt memory pricing.

As for communications semis, we think channel inventory is back to normal which can help exposed companies that have been killed so far this year after weak Apple units earlier in the year.

No Cycle Peak

For a cycle peak you need a few things.

1) End demand would need to slow which we said above we don't think is happening. A trade war would be a risk of that but, again, so far we don't think there's been a slowdown.

2) You'd need high channel inventories, which we think are fairly normal in most verticals. We do think there may be some elevated inventories in consumer gaming but that's an outlier.

3) You'd need double and triple ordering which we don't hear.

We don't think we're at a cycle peak in any industry yet. Again, if there was an all-out trade war, yes, slower demand could trigger a peak. Not there yet.

Conclusion

Net net sentiment is very negative looking for anything glass half empty but we're looking for opportunities on weakness into Q3 earnings.

Looking For Tech Earnings Home Runs

We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

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All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

$AAPL, $INTC, $SMH, $INTC, $AMD

Tuesday, September 4, 2018

Citi Tech Conference: Something New We're Watching

It's strange how the trade war has not really hit stocks. Why is that? Because the trade war hasn't yet hit earnings. If it does the stocks can get hit on poor reports or weak guides.

So when we saw this from DRAMeXchange our antennae went up,

"...smartphone brands and a few server manufacturers have marked down their [Q3] shipment projections."

That would not be good if true. The market's soaring but if the above quote proves correct there's risk to earnings and then stock prices.

We have not heard about this out of Q2 which was strong. If this proves correct it's a risk. Trade war fears reflected in weak orders and slower earnings would be the ultimate risk to stocks.

We'll be listening to the companies at the Citi Global Tech Conference tomorrow and Thursday for any signs.

Join Us For Our Live Coverage Of The Citi Conference

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Looking For Tech Earnings Home Runs

We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

START FREE TRIAL

All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.


Cisco $CSCO
Intel $INTC
Micron $MU
Microsoft $MSFT
NVIDIA $NVDA
Apple $AAPL


Correction: Tickers added Sept 4, 2018 9:11 AM EDT

Monday, September 3, 2018

Tesla: Production Even Close To Estimates, Huge For Earnings

It was reported by Electrek that Tesla is apparently on track with their Model 3 quarterly ramp but below their 6,000 / week target.

The ramp is just so big that small misses don't really matter. Worrying about such precise measurements misses the big picture.

Tesla even coming close to their targets means that Q3 deliveries would jump about 90% from Q2. If they continue this pace deliveries will be up 3X by Q2 next year from this year's Q2.

Being high or low from those weekly, monthly, or quarterly targets misses the point.

...And Really Misses The Point For Earnings

What's most exciting about the story is of course earnings. Earnings are what drives stock prices.

Any data that expects Tesla comes anywhere close to their production or delivery targets means huge things for earnings.

Analysts were in shock on Q2 as S&X gross margins jumped from Q1. They were up anywhere from 500-1000 basis points from Q1 to Q2.

Why?

CEO Elon Musk said, "as we improve efficiency, then gross margin and so the profitability per car just improves dramatically."

Well you saw that in Q2.

What happens to gross margins if deliveries even come close to being up 90% in Q3 from Q2?

What's going to happen to gross margins when deliveries are up 3-fold by Q2 next year?

We think gross margins are going to jump.

Shorts Missing The Forest For The Trees

Even with all the communication blunders or smart short stories out there, they all get erased as production ramps 90% sequentially and 3-fold year-over-year.

Remember, "as we improve efficiency, then gross margin and so the profitability per car just improves dramatically."

That's now.

Q2 deliveries were up 36% sequentially and gross margins jumped. So for Q3 if deliveries are up 90% sequentially what's going to happen to gross margins? Look out.

Plug

We're speaking to Cadence, NVIDIA and Cirrus this week as well as covering the Citi tech conference. Join Us.

Looking For Tech Earnings Home Runs

We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

START FREE TRIAL

All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

Correction: added the word "sequentially" Sept 3, 2018, 9:57 AM EDT

Sunday, September 2, 2018

What We're Watching At The Citi Tech Conference

The Citi Global Technology Conference this Wednesday and Thursday is timely. We're two months into the third quarter. Third quarters are important in tech because you have the build for the holiday season.

Investors will be looking for any hints from management how trends are progressing.

Here's some of the things we're looking for...

General Body Language

Frankly we want to make sure companies are still pumped about business. They should be. Tech's been strong and demand has been strong. We want strong language that tech and demand have not slowed. That's what the stocks need to move up. If we don't hear that there could be risk.

DRAM Price Weakness Not Because Of Demand

We've heard some analysts and companies concerned that DRAM prices peaking and coming down in the spot market could be an early sign of weak demand. We don't think so. We think supply has caught up with demand to some degree but, we'd guess demand has not slowed.

Capex Strong

Datacenter demand has been very strong at most semi players. Capex spending has been accelerating at the hyperscalers. We think that should obviously translate to continued strong trends at the datacenter. As long as capex remains very strong we have medium term visibility that this tech boom is very much in place.

Capex moving up also allays concerns of weaker DRAM pricing.

Trade Tensions

Any disruptions thanks to trade tensions?

Apple Food Chain

Apple's launching new products September 12. Some Apple suppliers appear to have bottomed and we want to hear that Apple is bullish about the Fall launch and that inventory is lean enough for suppliers to benefit.

Stock Action

You'll have the biggest funds meeting with the largest tech companies. Stock action matters on Wednesday and Thursday. What those huge funds hear can quickly get reflected in the stocks moving up or down. Ear to the train tracks.

Here's the list of companies we're watching more carefully.

Twitter Inc $TWTR
Applied Materials $AMAT
Arista Networks $ANET
Autodesk $ADSK
Checkpoint $CHKP
Cisco $CSCO
Intel $INTC
Juniper Networks $JNPR
KLA-Tencor $KLAC
Lam Research $LRCX
Maxim Integrated $MXIM
Micron $MU
Microsoft $MSFT
MKS Instruments $MKSI
NetApp $NTAP
NVIDIA $NVDA
Qualcomm $QCOM
Roku $ROKU
Skyworks Solutions $SWKS
STMicroelectronics $STM
Texas Instruments $TXN
Western Digital $WDC
Xilinx $XLNX

Conclusion

Septembers matter for the stock market and timely tech conferences like Citi this week are key. We want to hear strong trends and want to see good stock action. If we don't get either we probably need to do a little more digging and maybe watch out.

We also have a full slate of upcoming company calls.

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All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

Updated September 2, 2018 11:17 AM EDT

Friday, August 31, 2018

Can Tesla Hold $300? And Some Other Random Thoughts

Source
Tesla' stock held $300 yesterday but has been in a sharp downtrend since doubt surfaced about going private.

Go Profitable Or Go Private

At some point fundamentals will drive the shares again. Going profitable is much more valuable to shareholders than going private.

So while going private could fetch a measly $420, we still think going profitable can get the stock to $1000+ (join to see model). We may be low seeing Ark Investments expecting $4,000 per share.

Reuters ranks us with 4/5 stars for our estimates. Our numbers factor into the Street numbers. Our $1,000+ target is based on those same high ranking estimates

Timing

Tesla's stock is for sure volatile so we want to try to build that position at good prices. Building at poor entries decreases confidence in the position. I want conviction to hold to $1,000 but to do that great entries help a lot.

Entering at strong entries helps have confidence to keep the position for the long term.

We had noted previously that there's huge longer term support at about $280.  Yes yesterday looked like the stock can hold $300 which is a shorter term support.

But we'd note that the stock's still been in a sharp downtrend.

How To Add

To add to a position we want to see it start moving up. We don't mind getting in at strong long term supports because we'd expect the fundamentals will take us higher than that level. But even better than strong support levels is we'd simply want to see the stock stop moving down and start moving up. Somewhat simplistic, but it works.

We've seen managers go out of business by constantly averaging down. We don't mind lower averages but only if we see the stock moving up.

We don't mind adding even higher and missing the low. I'm never thinking I'm smart enough to catch bottoms. I'd rather see the stock move up, which others will then see and that can get things going all over again.

Earnings

Earnings report in October. Production and delivery whispers will become front and center again.

The Street seems way too low for $2.90 in 2019 based on our model. We're at over $20.00 for 2019. That's based on the company's plans for 2018 and company comments on earnings calls about 2019. Sorry for the plug but our estimates are ranked highly too. We have no problem seeming way too high. Subscribers know we can be right more often than not.

Too Bearish

Analysts have been too bearish digging themselves a ditch they can't get out of. Maybe they don't have the experience, not sure, but going profitable is as good as you can get after years of losses.

I have no idea why analysts aren't swiveling to accept that this story is about to get much much better. Earnings are what drive stock prices and you're about to get a big swing in earnings as they go positive.

When Do Sell-Siders All Come Aboard

I do have an opinion why sell-siders are not swiveling. Sell-siders are also a herd. They want to see stock prices move up rather than have confidence in their work. 

We have confidence in our work to say that we expect the stock to rise big.  But when will the sell-side get aboard? They'll jump aboard and believe in their work only when the stock hits $400 and $500. Then you'll get all the upgrades that the story's suddenly amazing. That's how the sell-side works. But you knew that. They don't get paid to predict very far or very high. That's our opportunity to exploit.

Conclusion

I find myself writing about Tesla a lot publicly. I hear myself. This earnings inflection is so big. My whole career I'm focused on earnings. That's what drives individual stock prices. That's what really drives the market; that and interest rates.

So when you have a company saying we're hitting earnings leverage as we ramp Model 3s and we're going profitable, why not take heed?

I still read many comments and opinions out there that this company is a loss-maker. Ok, rearview mirror loss-maker. They are telling you profit. Nobody, not the sell side, not the bears, not the shorts, believe it.

That's opportunity.

We haven't had a multiple choice quiz in a while but I'm in the mood. Here goes. Let's see who's paying attention.

The ultimate driver for individual stock prices are
A) Really well articulated short stories from websites with over 30 million unique visitors.
B) Really well articulated short stories from websites with over 50 million unique visitors.
C) Really well articulated short stories from websites with over 60 million unique visitors.
D) Earnings.

This is a tough one so take your time and think about it.  Feel free to answer in comments.

Definition: Sell-side= brokerage firms that sell their research.

Looking For Tech Earnings Home Runs

We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

START FREE TRIAL

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All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

Monday, August 27, 2018

Tesla Stock Had A Great Day Today

For any other day you wouldn't think the stock being down 1% was such an accomplishment. But following Tesla's (NASDAQ:TSLA) announcement that they were canceling their go-private plans, down 1% was a very strong performance.

What Are Shorts Expecting?

Shorts were licking their chops pre-market but again came up empty.

One thing I'm personally excited about is one simple thought process. The shorts and bears have been licking their chops for a long time now thinking this is a zero because of all the losses. But the stock has only gone up.

But what's next? Think for a second. Profits.

After all those losses-stock-up-anyway, we're going to get profits. What's going to happen to the stock then? We think the simple logic-math says it's going to go higher still.

Here's the complex proprietary formula we came up with.

IF LOSSES = UP THEN PROFITS = AT LEAST UP

Not so hard, right?

And Musk's Friday night blog comments said,

"...and we now need to show that we can be sustainably profitable. With all the progress we've made on Model 3, we're positioned to do this, and that's what the team and I are going to be putting all of our efforts toward."

Nobody read that? Shorts? Bears? Anybody?

They are "positioned to do this." What's this? To be "sustainably profitable" based on the "progress we've made." They are not one-quarter profitable. They are positioned to be sustainably profitable based on where they are right now.

So remember; losses = up stock then profits = at least up stock = rocket ship?

The stock's action today being down only 1% on confirmation of no transaction was great action. Action, watching what the stock does versus what you would have expected, was amazing today.

The stock action today was saying many many investors are relieved that they get to share in the upside. We had said Musk wanted to keep that upside for himself by going private. In the end he felt bad but also didn't understand the complicated web of taking a stock back from the public.

Conclusion

The simple fact that Musk wanted to go private meant that he saw incredible value in his company and wanted to lever that for himself. Investors smell that. Bears are too bearish and emotional and can't see that going profitable is something huge. How long can they hold on as this earnings rocket ship takes off.

Looking For Tech Earnings Home Runs

We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

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All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

Sunday, August 26, 2018

Tesla: Seriously, Musk, Who Cares About The Shorts!

Congrats to Elon Musk and Tesla shareholders for the late Friday decision to stay public. We've mentioned our $1000+ 12 month price target. That's based on using a 50X PE on 2019 earnings numbers considering Tesla starts going profitable in Q3 and/or Q4.

It sounded like this whole going-private idea was somewhat emotionally charged to avoid the shorts.

Who cares about the shorts, though!

Who Cares About The Shorts

We love shorts.  When we find a company and a story we love, it's such gravy to know that there's a huge short interest. Those are the players that are going to help send our loved stocks up into the stratosphere.

We've had plenty of them and it is so much more fun when there are huge shorts against us (ask subscribers).

Shorts Are Pent Up Stock Buying Demand

Seriously, Mr. Musk, the shorts are going to be your best friends. You want the stock to go up, right? We want the stock to go up.

How do you get stocks to go up, you need buyers.

Just like you have a backlog of orders for Model 3 and that gives you some comfort, you have a huge backlog of stock buyers in those shorts.

You should be loving the shorts knowing you have so much pent up buying demand.

We love the shorts.

All those bears and shorts are going to have to give-in as long as you simply (come close to) deliver what you set out too.

Who cares about the shorts? Seriously, stop calling them, chiding them, playing with them, acknowledging them. WHO CARES!

How about this: You deliver Model 3s, S&X, Y, Z, L, M, N, O, P and let them push the stock up as you deliver on all your targets. You say nothing about shorts and lose no sleep about one short. Just deliver.

The shorts have been a distraction pushing you to think about going private. The shorts are going to be your stock's best friends.

Our best calls are stocks we love with a huge short interest. It's an amazing thing to watch them have to cover as your earnings numbers come to fruition.

Forget about the shorts.

S&P 500, Here We Come

After you print successive profitable quarters and you are in the running to be an S&P candidate, don't worry all the major institutions are also going to need a serious position in your stock. And, again, the shorts are going to be your best friend, helping the stock jump as these massive investors need to own giant size in Tesla.

Ignore the shorts!

Conclusion

Ignore the shorts. Don't pay them any attention, time or energy. They are a great company's best friend. They are your stock buyers in backlog.

Looking For Tech Earnings Home Runs

We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

START FREE TRIAL

Read Reviews

All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

Thursday, August 23, 2018

Trade War: No News Isn't Necessarily Good News

The US and China met the last two days to discuss trade. We'd love it if we heard of an imminent joint press conference. Maybe we'd hear some good news.

But so far we haven't heard such news.

The Tell

Uncharacteristically, President Trump didn't expect much to come out of this meeting. When Trump has been confident ahead of a meeting he usually comes away with something.

Not expecting much tells you Trump may have used this meeting for posturing which implies we also shouldn't expect much.

More Pressure To Come?

Our guess is Trump will use the findings of this meeting to further hard-press China.

China's stock market and economy have been struggling ever since The US applied pressure. Trump probably feels he has the upper hand.

We wouldn't guess much comes out of this meeting and, if anything, harder US pressure can soon follows. That pressure would likely further risk China's economy and financial markets and could be a bad news day for US markets.


Looking For Tech Earnings Home Runs

We spoke to the top tech companies over the last few months to identify what tech stocks have home run earnings potential. Earnings are what drives stocks, especially tech stocks. Finding those few tech stocks that have realistic earnings trajectories way above the Street can give you conviction to see a stock through to big upside. Dip your toe in the water with a free trial.

START FREE TRIAL

Read Reviews

All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless.

We have no holdings in the stocks mentioned unless otherwise noted.

Updated Aug 23 4:40 EDT PM, grammar.

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