Equities can hit new highs despite market uncertainties, says JPMorgan's Abby Yoder
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Alphabet, Amazon are buys ahead of earnings results, portfolio manager says
Alphabet and Amazon are buying opportunities ahead of their earnings results, while other plays on artificial intelligence such as Quanta Services are set to get a strong boost, according to Keith Gangl, senior portfolio manager at Gradient Investments. Gangl joined "Power Lunch" on Tuesday to offer his thoughts on the Magnificent Seven companies ahead of their quarterly earnings reports this week and next, as well other AI plays. Here are his takes during the "Three-Stock Lunch" segment. Alphabet The Google parent is a buy ahead of its earnings due Wednesday afternoon, the portfolio manager said. The stock has rallied more than 8% this month, but it remains a laggard for the year. Alphabet has gained 1% in 2025, while the S & P 500 has climbed more than 7%. What's more, Gangl said, Alphabet is the cheapest of the Magnificent Seven stocks, and cheaper than the overall market. "This is a name we like here, especially on the sell-off earlier in the year," Gangl said. "Stock's starting to catch up." Amazon The online retail giant, which reports quarterly earnings next Thursday, is a "strong buy" here, Gangl said. Shares have gained 3.7% year to date. Amazon is trading at a 31 times forward multiple, making the stock the "cheapest that it's been in a decade," according to the portfolio manager. The internet company is posting strong growth in Amazon Web Services, its cloud computing services platform, while its retail business is also demonstrating resilience in the face of tariffs. "Consumers are relatively strong. We saw retail numbers last month. They were better than expected. People are still working," Gangl said. "When the U.S. consumer is working, they have money in their pocket. They love to spend, and Amazon is the place they'll go to." Quanta Services Quanta Services is a buying opportunity, Gangl said. The stock has risen 25% year to date, but the company, which builds and maintains electric power grids, remains a major way to play the artificial intelligence theme. "This is a player we like," Gangl said. "It's not a cheap stock, trading at 33 times forward, but we think they're in the right place, right time."
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Berkshire's stock seeing a normal drawdown but still in an uptrend, says Carter Worth
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