Asks if the dip in software stocks is in or if more sell-off is coming.
Vonnie Quinn
Stephanie Guild
The whole software sector is in freefall, technicals don't matter, it's well below moving averages. Need to watch and decide which are undervalued. Microsoft will end up in a much better position than the market gives credit.
Pharma stocks are dipping post-earnings. Is now a good time to buy?
Vonnie Quinn
Stephanie Guild
Started adding to pharmaceuticals in October. This is part of the market rethinking what technology means. Pressure on larger pharmas like Novo Nordisk due to GLP-1 competition. It's a stock-picker's market, not buying broadly. Think there will be opportunities to take advantage of any sell-off.
Mentions Mike Wilson's note on adding consumer discretionary stocks. Asks which consumer stocks she likes.
Vonnie Quinn
Stephanie Guild
Starting to see market as things over services. Likes VF Corp. Similar to Gap, it has sold off, focuses on efficiency, paying down debt, revitalizing brands.
Asks about Barclays research suggesting Fed chair transition causes market turbulence. Would she be concerned?
Vonnie Quinn
Stephanie Guild
Depends on the situation. Market has started to react. New Fed chair seen as hawkish on balance sheet. Need to look at what situation Fed chairs arrived in. When Powell took over, drop was due to other things like trade war with China.