Now that we have completed the bulk of Q3 earnings season, I wanted to refresh my watchlist. I want to provide these smaller updates so you all have a sense of where I see the most opportunity in the markets now. My watchlist is a starting point for more research. But I can say for now that these 5 stocks are currently top of my mind as of Nov 11th.
1)Meta ($META) is my favorite contrarian long. Q3 earnings were strong, but investors sold this stock due to fears over whether the AI spending (both capital expenditures and operating expenditures) will pay off for Meta. I am betting that it will and would be adding on pullbacks. $META trades at less than 18x 2027 earnings.
2)Nvidia ($NVDA) is pulling back on fresh doubts around whether the AI capex cycle can continue. I think Nvidia is attractive trading at less than 22x 2027 earnings. I do not think we are in a bubble and Nvidia will be making healthy profits for years to come. Earnings are next week.
3)Google ($GOOG, $GOOGL) took a pause, but I think it will inevitably be over $300 per share in 2026. Meta is cheaper, but I still like Google based on its many secular tailwinds. Google trades at a reasonable 22x 2027 earnings.
4)Uber ($UBER) had solid Q3 earnings but still sits below $100. I will do a longer write-up on this, but if organic ridership growth continues to be +15% YoY I think the stock has a long runway. Uber valuation is inexpensive at less than 18x 2027 earnings.
5)Adobe ($ADBE) remains my sleeper pick for 2026. If they can show investors revenue can grow +10% despite AI fears, the stock could re-rate in 2026. Trading at less than 13x 2027 earnings today, you could beat the market next year on multiple expansion alone.
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-Accrued Interest
Disclaimer: The information presented in this Substack is for educational purposes and should not be construed as investment advice. Investors should make their own decisions regarding the prospects of any company discussed here, as I am not a registered investment advisor.
You can always reach me at simeon@accruedint.com.
