July 9, 2021
Expensive stocks are the norm these days as P/E ratios are near all-time highs. We have been beating the drum for countercyclical value plays to hedge against potential policy headwinds, but where is the best value in each industry? In the high-value tech sector, it's Micron Tech, Western Digital, and Hewlett Packard that lead the way. In consumer discretion, where Amazon and Tesla hog headlines, PulteGroup Lennar and D.R. Horton are the cheapest stocks. And some of the best value in any sector is a pair of pharmaceuticals, Viatris and Organon. These stocks trade below S&P 500 projected earnings and well below their respective industries. Quality stocks with solid fundamentals but still relatively cheap are the Goldilocks picks to not lose out on future gains and stay in a better-hedged position.
FINSUM + Magnifi: Policy limbo continues as another Fed Governor has jumped out to comment on tapering, making these cheap stocks even more valuable.
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