Nov 2, 2026 · 47 min
Listen from 45:04
Listen at 45:04
Six stock calls follow a technology-led market sell-off
3 Stocks to Sell and 3 Stocks to Buy for November
The episode connects AI monetization worries, monetary policy, earnings, and valuation discipline to six specific portfolio decisions.
- 1AI spending concerns helped drive the sell-off, but company-specific earnings and valuations remain decisive.
- 2Investors should assess core holdings through risk tolerance, diversification, valuation, and economic moats before trimming or adding.
- 3Dave Sequeira favors selling Valero, Robinhood, and Johnson & Johnson while buying Applied Materials, StandardAero, and Crown Castle.
Don't miss
Dave Sequeira explains why Applied Materials shifted from a sell to a buy after falling sharply from previously excessive levels.
The brief
Sarah Hansen and Dave Sequeira examine a technology-led market sell-off, where disappointing results and doubts about AI monetization collided with shifting investor expectations.
The earnings discussion spans Apple, Microsoft, Alphabet, Amazon, Amphenol, healthcare companies, and defense firms, with growth, capital spending, margins, and valuation driving the analysis.
The hosts argue that core holdings require more than loyalty: risk tolerance, diversification, broad ETFs, economic moats, and valuation should determine when investors trim or add.
The November sell list targets Valero, Robinhood, and Johnson & Johnson, while the buy list turns to Applied Materials, StandardAero, and Crown Castle.
The sharpest contrast is Applied Materials, which moves from a sell to a buy after a steep decline brings its price below Morningstar’s valuation.
What was said on this episode
18 statements · 10 positive · 7 negative · 1 neutral
Slower AI monetization would make many commodity-oriented technology stocks overvalued.
“if the monetization of AI is slower than what's expected and you're not going to be able to generate those returns that people are expecting on these names, then yes, a lot of these stocks, especially those commodity-oriented tech names, are overvalued.”
Listen at 2:44
The Federal Reserve will still act when monetary policy changes become necessary.
“I still think that they're going to act when and if needed.”
Listen at 5:44
Apple carries substantial risk ahead of earnings.
“So I think there's a lot of risk in this one.”
Listen at 7:14
Investors should consider taking profits on Palantir after its strong rise.
“I think now is probably a pretty good time to take some profits on that position with as much as it's run.”
Listen at 8:21
Signs of normalization would create substantial upside for Clorox.
“I think if we get any kind of indication that things are starting to normalize here, I think there's a lot of upside in this one.”
Listen at 10:28
Microsoft is suitable as a core holding for most investment accounts.
“I still consider Microsoft to be a core holding type of stock for most accounts.”
Listen at 14:18
Investors should consider taking profits on Biogen.
“maybe now is a good time to at least take some of those profits off the table”
Listen at 22:05
L3Harris should gain revenue and margin from evolving warfare and aligned products.
“I think they're going to get a lot of good upside revenue, a lot of good upside margin because of the change in how warfare is conducted and that their products really line up with that.”
Listen at 25:28
Intercontinental Exchange’s energy futures business benefits from long-term secular trends.
“we think like the energy futures business benefits from long-term secular trends”
Listen at 26:05
Core holdings should survive severe recessions.
“These are the companies that you're going to have the confidence in that they're going to be the survivors no matter how severe of a recession we may have.”
Listen at 28:59
Investors should take some profits when core holdings become one- or two-star stocks.
“when they do move into two star or one star territory, even though maybe you don't want to sell out your entire position, you at least have to take some profits”
Listen at 30:39
U.S. refiners are substantially overvalued.
“all the refiners are trading well into overvalued territory”
Listen at 31:59
Refiner stocks could fall substantially when refining conditions normalize.
“once the cycle starts to normalize at that point then i think these stocks probably have a lot of downside”
Listen at 34:02
Applied Materials’ stock has fallen excessively.
“we think it's fallen too much to the downside”
Listen at 38:45
Demand for semiconductor fabrication equipment remains healthy.
“industry demand is still very healthy across the board”
Listen at 38:57
Lower air-travel demand would not materially affect StandardAero near term.
“I still don't think that that would end up really impacting the stock here in the near term.”
Listen at 42:34
SpaceX entering wireless could provide Crown Castle substantial additional upside.
“if they were to do that, they would add a lot of further upside to Crown Castle that we don't have currently modeled into our model.”
Listen at 44:23
Crown Castle remains attractively valued without SpaceX-related upside.
“even without that upside it's still just an attractively valued stock”
Listen at 45:04
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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