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Trade Tracker: Bill Baruch trims his top positions
CNBC Television • 4:01 minutes • Published 2025-07-17 • YouTube
📝 Transcript (147 entries):
the bullish momentum moves from one to the other. >> Right. You're mentioning Microsoft also at an all time high. Is this a time to get off the ship on Microsoft? Joe? Josh I mean.
>> I think it's really interesting here with Microsoft is if you look at Microsoft relative to the Q-q-q, it still has not made a record high relative to the Q-q-q. I think there is a lot of power still behind a lot of these big names, and I expect them to outperform in the back half of the year.
Now, coming back to why we. >> Look at the name you just trimmed. So if you're expecting outperform, why would you trim there?
>> The S&P information technology S&P is a 33% weighting I believe we were over 40% information technology. Again, we took bets in April that we want to monetize. I still love looking at Microsoft.
And if we may not be overweight Nvidia anymore, it's a 6% weighting in our portfolio is still pretty large. After trimming it, Microsoft is still 5% weighting in our portfolio.
But then we also have names like Broadcom at a 5% weighting. So it's really how do you put that piece of pie together. And we trim we trim those too. So it's just kind of bringing down that exposure a little bit, having a little bit of wiggle room and not having your pedal to the metal, you know, full gas here as as Josh and Joe highlighted reiterated you can't. Getting more bullish up here is kind of difficult right now.
>> All right Joe just mentioned Apple I want to focus on a couple of things. Apple's target price target raised two 250 from 230. Also reiterated overweight by JP Morgan. At the same time you're actually buying some Apple bill. So give us the thesis. Why buy Apple right here.
>> Yeah we are looking at our main portfolio. We're looking to add Apple haven't done that yet. But in our concentrated portfolio where we own no more than ten names, we really kind of slashed a handful of them.
And Apple which we've been underweight in our main portfolio. We're at weight like 3% in Apple. And this concentrated portfolio, it's been on the bottom half of it.
So we wanted to increase the weighting here. If you look at I just talked about Microsoft relative to the QS, Apple relative to the QS is going back to really like the 2021 2022 lows. There's a lot of room here. Now Apple's also unloved.
And I'll tell you one thing that's continued to work for me over the last few years is when Apple is unloved. You close your eyes and you buy it. And that's what we're doing here right now.
And I expect to be buying more Apple in the coming weeks. >> I like those move. You know, this is a name that's down 16%. It is the second worst performer out of the S&P 20. It's very rare that Apple is the worst of the mega cap stocks, or one of the worst of the mega cap stocks. The only one worse is here. Joe mentioned is Tesla.
The trouble with Apple is that it's still a 33 times trailing P. My comment to that would be the market doesn't seem to care. It's been an expensive PE for most of the last two years. I think the reason why the market is giving it that premium is not because they're delivering earnings growth, it's because someday they will again. So that's kind of like a bet that they're going to get their earnings growth story back together. It's a little bit technically a no man's land 3% above the five day 5% below the 200 day. But here's the thing.
All of a sudden, a couple of journalists, maybe it'll be the information, maybe it'll be TechCrunch. Someone's going to get word that something special is happening with AI in Cupertino. They won't launch a product, nothing will come out on stage. But like all of a sudden you're going to start to hear this creep into the press.
Apple finally got its AI story straightened out that could take the stock to 250. Think about it. It's a $21 stock going to 25. That's all we're talking about. It happens every day. So for Apple to get to 250 as the sentiment shifts on this AI debacle, it and think about it like Tim Cook has never been under this much pressure to deliver something. Never. Not in the whole time he's been running the business. It's been milestone after milestone.
Trillions, trillions. This is a really big deal for Apple. Some would say existential. I don't think they'll fail. So they failed so far. And I think all you need is a little bit of a