NeutralGOOGLAlphabetAlphabetMDTMedtronicMedtronicMSFTMicrosoftMicrosoft

3d ago

Monthly Portfolio Report: October 2026

Welcome to this edition of my Portfolio Report. Once a month, I analyze my 3 live portfolios and update everything following my Quality Stocks Investment Framework. My goal is to provide complete visibility into how real capital is deployed. I don’t chase short-term momentum or macro noise, instead, I systematically track fundamental execution, capital efficiency and total returns over long time horizons. Join 22,000+ investors receiving our weekly GARP research 📊 Executive summary Total Portfolio Net Asset Value (NAV). 198,811€ Cash Reserve . 6.2% (vs 3% last month) World Class Quality Portfolio NAV. 148,430€ Multibagger Hunting Portfolio NAV. 33,325€ Boring Portfolio NAV. 17,053€ Projected Annual Dividend Income (PADI) . 2,230€ Top movers of the month: 🟢 Top performer. Diaceutics in the Multibagger Hunting portfolio. (+29%). The explosive ARR growth (+79% in Q2 26) and NRR (149% from 118%) highlighted a strong momentum. Delayed profitability is not an issue for the market. PE should be around 30x in 2028 🔴 Top decliner. Rollins in the Boring portfolio. (-16%). The slowdown in growth, combined with management’s comments that AI could become a headwind, continued to pressure sentiment and weigh on the stock. The current level is looking attractive 🌐 Current market analysis and my strategy The market currently feels a bit like a washing machine. September was expected to be a difficult month, but US indexes actually held up relatively well compared with historical seasonality. Once again, however, performance was heavily driven by the strongest momentum themes of the current market: AI, energy or cybersecurity. For me, September was mainly an opportunity to clean up the portfolio and build more flexibility. I reduced several positions and roughly doubled my cash allocation (from 3% to 6%) . The current market environment is becoming increasingly uncomfortable, so I prefer to stay cautious rather than chase momentum. In October, I plan to continue simplifying the portfolio, selectively add when stocks enter compelling Buy Zones, and potentially increase cash a little further. Follow the strategy, stay disciplined and prepare for a potential storm. AI remains the elephant in the room. The long-term opportunity is enormous, but the risks are becoming increasingly visible. We still need to understand the real long-term ROI of AI infrastructure . Also, what will be the pricing power of some current winners once the current capacity shortages normalize? The sustainable profitability of model builders is also a question (Anthropic’s IPO will be closely watched). Finally, what will be the actual return enterprises and end users will generate from deploying AI? The biggest risk, in my view, is the propagation of changes in demand through the supply chain . When expectations are extremely high, even a slowdown in growth can have an outsized impact on suppliers of semiconductor equipment, memory or severs. A company does not necessarily need to see demand collapse for its stock to suffer: sometimes growth simply needs to come in below what the market has priced in. That is why I prefer to gain AI exposure through businesses that should benefit from the trend across multiple scenarios , as well as selected picks-and-shovels where the long-term economics remain attractive even if the AI investment cycle eventually normalizes. Some examples just here: AI Energy Stocks: I Analyzed 39 Companies, Here Are My Top 8 . ⚙️ My portfolios The portfolios I share are my real portfolios, managed with my own real capital. I believe true skin in the game is essential to validate the credibility and discipline behind every analysis I publish. While my core Quality Framework (profitability, capital efficiency, strong moats, and recurring revenue) remains the DNA behind every stock I pick, I categorize my holdings across 3 distinct strategies . This allows you to tailor your exposure based on your own risk tolerance and time horizon: The World Class Quality portfolio The goal. Compounding through global dominance The assets. High-quality Blue Chips with massive market caps (typically above $10B). These are household names with established with huge competitive advantages The strategy. The core of my strategy is simple: buy world-class businesses at a reasonable price. I target market leaders with high returns on capital exactly when the market is distracted by short-term noise. Taking this contrarian stance provides a GARP-focused entry point , allowing me to build positions in quality stocks without paying a hype premium Example. Microsoft The Multibagger Hunting portfolio The goal. Finding the Titans of Tomorrow early with potential 10-baggers The assets. Quality businesses, usually with smaller market caps that are often ignored by institutional analysts The strategy. The goal is to find stocks with a potential TSR around 20%. High volatility but high reward. Because these companies are often smaller, they have a much longer runway for growth, some of them will be 10-baggers. I want to find stocks with increasing margin & growing market share Example. Transmedics The Boring Portfolio The goal. Investing in resilient, decades-long business models with structural stability. This sleep-well approach allows us to ignore market noise and let the power of compounding do the heavy lifting The assets. Quiet compounders that operate in unglamorous, non-cyclical industries. These companies provide essential products or services that people buy regardless of the economy The strategy. While many boring companies are burdened by heavy debt and lower ROIC due to their massive physical assets, my goal is to find the high-performance exceptions. I focus on business models fueled by long-term structural tailwinds Example. Waste Management 📐 Portfolio breakdown & key metrics 📌 Articles to revisit this month 🧭 Looking for all my investing resources? Access the latest Quality Screeners, Buy Zones, real-money portfolios, trades and investing guides in the Quality Stocks Subscriber Hub 3 Stock of the Week are worth a read: Medtronic / Booking / Meta with my views on the recent events and the Quality Stocks Investment Framework used for a quick analysis (scores, buy zones and fair price) 2 full stock analyses on Microsoft & Alphabet . They complete the series that began with Amazon Another full stock analysis on Norbit , a very interesting Norwegian small-cap A full screener on the AI energy bottleneck sector narrowing down 39 stocks to my top 8 An analysis on the acquisition of Delivery Hero by Uber . To go further, you can read my latest Stock of the Week about Uber Biotech is looking increasingly interesting. Here is why Finally, my 40-stock large-cap watchlist with my analysis and my buy zones to help you prepare yours Read more

NeutralJNJJohnson & JohnsonJohnson & JohnsonPFEPfizerPfizer

5d ago

Biotechs Are Now Big Pharma’s Innovation Engine

According to IQVIA, emerging biopharma companies now account for around 70% of all clinical-stage drugs in the industry pipeline with the majority still unpartnered. Another study identified that among the 237 new drugs launched by the world’s 20 largest pharmaceutical companies, only 36% were developed internatlly. Together, these figures highlight a structural change in the pharmaceutical industry. Innovation is increasingly being created by smaller biotech companies, while large pharmaceutical groups provide the capital, development capabilities and commercial infrastructure needed to bring successful drugs to market. This dynamic could be a powerful long-term support for the biotech segment of the stock market for decades, especially as Big Pharma continues to face patent expirations and needs a constant supply of new products to replenish its portfolios. Join 22,000+ investors receiving our weekly GARP research Join 22,000+ investors building GARP portfolios For less than $0.50/day , unlock Fundamental Analyses, Fair Values, Buy Zones, 3 Live Portfolios, the Private Quality Stocks Discord and our core Investment Framework Upgrade to Paid 🧬 Why Biotech Investing Is Different Before discussing the opportunity, it is important to note that biotech is one of the riskiest segments of the stock market . Many biotech companies have little or no commercial revenue, limited visibility on future cash flows and a valuation that can depend on just one or two drug candidates. The main risks are: High probability of failure. A promising drug can fail at any stage because of weak efficacy, safety issues or regulatory setbacks. Even approval does not guarantee commercial success. I developed this element in this article in 2024 Frequent dilution. Drug development is expensive and can take many years. Early-stage biotechs often generate little cash and therefore need to regularly raise capital through new share issuances Binary catalysts. Clinical trial results, FDA decisions, partnerships and acquisitions can move a stock in either direction Information asymmetry . For a retail investor, actually understand and know what is happening is very hard. Funds and banks have therefore an edge over retail investors On the bright side, Biotechs are less dependent on the traditional market cycle. They are often driven more by company-specific scientific and regulatory events than by GDP growth or consumer spending. This lower correlation with the broader economic cycle can be attractive from a portfolio perspective, but it does not mean lower risk. 🤝 Some meaningful deals The shift toward external innovation is visible in M&A. Over the past few years, most major pharmaceutical companies have spent billions acquiring biotech companies to strengthen their pipelines, often targeting assets that were already clinically validated or close to commercialization. Some of the largest examples include: Pfizer → Seagen | $43B Johnson & Johnson → Intra-Cellular Therapies | $14.6B Bristol Myers Squibb → Karuna Therapeutics | $14B Merck → Prometheus Biosciences | $10.8B AbbVie → ImmunoGen | $10.1B Gilead → CymaBay | $4.3B Eli Lilly → Morphic | $3.2B Roche → Carmot Therapeutics | $2.7B Novartis → MorphoSys | €2.7B Sanofi → Inhibrx | $1.7B These deals illustrate the broader model developing across the industry: biotech companies take much of the early scientific and clinical risk, while Big Pharma can deploy its financial resources once an asset has demonstrated enough potential. For large pharmaceutical companies, acquiring innovation can therefore become just as important as developing it internally. It is important to note that pharmaceutical companies tend to buy drugs in Phase III or in commercial stage (77% of the 2025 M&A activity). Usually, they won’t take the innovation risk and prefer to pay a higher price for a more certain outcome. 🏦 Big Pharma Is Becoming a Portfolio Manager of Innovation The role of large pharmaceutical companies in the value chain has therefore evolved. Instead of trying to discover every successful drug internally, Big Pharma can monitor thousands of biotech programs and license, partner with or acquire the most promising assets once part of the scientific and clinical risk has already been absorbed. In that sense, large pharmaceutical companies increasingly act as portfolio managers of innovation . They bring the financial resources and infrastructure required to scale that innovation: late-stage clinical development (usually the most expensive ones) , regulatory expertise, manufacturing capacity and global commercialization. 📈 Why M&A Activity Is Rising During the first six months of 2026 alone, deal value had already reached $130B , almost matching the entire previous year. And 2 main factors explain why it could last. 1. Big Pharma Is Facing a Major Patent Cliff The first driver is urgency. According to IQVIA, more than $230B of biopharma industry revenue will face loss-of-exclusivity exposure by 2030 , including blockbuster drugs such as Keytruda, Eliquis, Opdivo and Darzalex. For some large pharmaceutical companies, a significant portion of today’s revenue base is therefore at risk. 2. Big Pharma Has the Financial Firepower At the same time, pharmaceutical companies have substantial resources available for acquisitions. IQVIA estimates that Big Pharma currently has around $1.3T of dealmaking capacity . 🔎 How Retail Investors Can Select Biotech Stocks For retail investors, the objective should probably be to reduce the number of ways the investment can go wrong instead of chasing complex or uncertain investment cases. A few criteria that could help: Investing in later stage assets to reduce the risk of failure and dilution Looking the cash runway to be sure the biotech has enough liquidity to reach the final milestones Avoiding excessive single-asset risk and preferring diversified biotechs with a proven track record and if possible already several drugs already commercialized Looking for external validation especially partnerships with major pharmaceutical companies and licensing agreements Focusing on differentiated drugs, a drug offering meaningful advantage in efficacy, safety, convenience or address a market where existing treatments remain insufficient Being careful with valuation and LOE (loss of exclusivity) Never investing solely on the expectation of an acquisition and treating M&A as a potential upside Using smaller position size In recent years, I have followed these guidelines. Among the few biotech companies I have invested in, my favorite is certainly Halozyme , which has delivered a 150% return since I first presented it to my paid subscribers in 2024. Its very specific business model gave the company a structural advantage that I was able to identify and benefit from. In this case, M&A was never the core thesis. The value creation came instead from licensing partnerships with Big Pharma. 🧰 Another Way to Invest in Biotech Research: Bioprocessing & Pharma Picks-and-Shovels Investors do not necessarily need to take direct clinical risk to benefit from the growth of biotech innovation. Accelerating M&A activity could also support another part of the market: the companies providing the tools, equipment and services required to discover, develop and manufacture new drugs . These businesses operate across areas such as bioprocessing equipment, laboratory instruments, reagents, filtration systems and contract manufacturing. Their economics are often less dependent on the success of a single drug: regardless of which biotech ultimately succeeds, the industry still needs laboratories, manufacturing capacity and specialized equipment. In that sense, they represent the picks and shovels of biotech : a way to gain exposure to rising R&D spending and the growing complexity of biologic drug development while reducing some of the binary clinical risk associated with investing directly in early-stage biotech companies. 📐 Sources & Resources 🧭 Looking for all my investing resources? Access the latest Quality Screeners, Buy Zones, real-money portfolios, trades and investing guides in the Quality Stocks Subscriber Hub Biopharma M&A: Outlook for 2026 and Mid-Year Update New perspectives for better R&D performance: lessons learned from leading pharma companies

NeutralAMZNAmazonAmazonEXPEExpediaExpediaGOOGLAlphabetAlphabetMETA

1w ago

Stock of the Week: Meta - Is Muse Changing the Investment Thesis?

Meta remains one of the highest-quality businesses in the market, combining exceptional profitability, massive global distribution and a still-growing advertising engine. The investment case, however, is increasingly tied to whether the company can generate attractive returns on its enormous AI infrastructure spending. Muse provides the first tangible sign that this investment could translate into a meaningful consumer product , with strong early adoption and potential monetization across subscriptions, advertising and commerce. Meta’s distribution through WhatsApp, Instagram, Facebook and its AI glasses gives it an obvious advantage, but retention, monetization, competition and the willingness of third-party platforms to cooperate remain major unknowns. At $751 , much of this enthusiasm is already reflected in the share price. My base-case Fair Value stands at $681 , while the expected TSR of 11.5% annually is reasonable but not compelling enough given the pressure on margins, FCF and the rising expectations embedded in the valuation. I therefore maintain a 🟡 Conditional rating and would become considerably more interested around $600 , where the risk/reward and margin of safety would improve materially Welcome to Stock of the Week . Every week, I break down a stock affected by significant market news, earnings updates or a compelling valuation disconnect. Then, I analyze it through the Quality Stocks Investment Framework . Join 22,000+ investors receiving our weekly GARP research 🔍 Meta Stock at a Glance Meta ($META) | September 26 analysis Market cap $1.9T | Stock price $751 🧭 Looking for all my investing resources? Access the latest Quality Screeners, Buy Zones, real-money portfolios, trades and investing guides in the Quality Stocks Subscriber Hub 📰 Why is Meta stock Moving The event . Meta launched Muse, its new personal AI agent, on September 8. Unlike a traditional chatbot, Muse is designed to take actions for users (like researching purchases, sending emails or booking travel) and can work directly through WhatsApp. Early adoption has been strong: estimates suggest more than 3M downloads within the first weeks, with Muse reaching the top of the US App Store. Meta reinforced the strategy at Connect 2026 by announcing Muse integrations with its AI glasses and major partners including Shopify, Walmart, Paypal or Expedia Market reaction . Investors reacted very positively to the early traction. Meta shares jumped 11.4% in a single trading day, adding roughly $192B in market cap, as the market began to price in the possibility that Muse could become a meaningful consumer AI platform The analysis . Muse potentially changes the perception of Meta's massive AI investments. Until now, investors could clearly see the cost of the AI infrastructure buildout but had much less visibility on how it would eventually be monetized. Muse provides the first convincing glimpse of a consumer product capable of leveraging Meta's enormous distribution through Instagram, WhatsApp, Facebook and even its AI glasses. The opportunity could eventually extend across subscriptions, advertising and commerce. However, the excitement remains based on very early adoption data: downloads do not yet tell us anything about long-term retention, monetization or the cost of running an agent at scale. The key question is therefore whether Muse becomes a durable new growth engine or whether the stock price is running ahead of the fundamentals. Amazon has already blocked Muse from using its store as traditional platforms wants to keep a direct link with their customers. Additionally, competition from other players (Alphabet, Amazon, Uber) will eventually catch up. Therefore I see Muse more as a disruption sign of traditional platforms rather than a long-term edge for Meta 📈 Meta Stock Fundamental Analysis 🟢 Growth 100/100 🟢 Quality 90/100 🟡 Valuation 41/100 Meta combines exceptional profitability with very strong capital efficiency due to the strength of global platforms like Facebook or Instagram. The main weakness is the heavy dependence on advertising revenue and on maintaining engagement across platforms whose popularity can evolve quickly with consumer trends. Regulation also remains a structural risk, particularly around data privacy & teenager usage, competition and content rules across multiple jurisdictions. At the same time, Meta’s margin is expected to decrease. Capex has surged, putting significant pressure on free cash flow and reducing near-term cash conversion despite strong accounting earnings. In that sense, Meta increasingly shares the same trade-off as other large AI spenders: exceptional core economics, but much heavier reinvestment requirements and less visibility on the returns generated by that infrastructure. Before jumping into the stock’s numbers, here is a quick refresher on how the Quality Stocks Investment Framework translates fundamentals into disciplined execution because we want to find great businesses built for the decade, bought at execution targets built for right now. 🔎 FIND → 🏢 UNDERSTAND → 💰 VALUE → 🎯 EXECUTE → 🚪 EXIT 🔎 Selection & Scoring - Find potential great businesses 🏢 Business Model Analysis - Understand how they create value 💰 Expected Returns & Fair Value - Determine what they are worth 🎯 Buy Zones - Execute with discipline 🚪 Sell Decision - Know when to exit To dive deeper into the complete process, read the full Investment Framework guide 💬 What’s your take? Drop your thoughts and questions in the comments below . If you found this breakdown valuable, hit the ❤️ button , it helps more GARP investors find our research! Leave a comment 💰 Meta Expected Returns: Quality Stocks Expected Return Model My projected Total Shareholder Return (TSR) for Meta is built from 6 components, each estimated on an annualized basis: Organic growth: +12.0%/year Acquisitions: +0.5%/year Dividends: +0.3%/year Share buyback: +0.5%/year Valuation contraction: -1.8%/year Margin expansion: +0.0%/year Total: 11.5%/year My Quality Stocks Fair Price is based on 3 scenarios, with a separate DCF model for each: 🔴 Bear Case: $524 . Growth quickly decreases to under 10%, 0.5% additional growth coming from acquisitions, margin decreases 🟡 Base Case: $681 . Growth slowly decreases to 12%, 0.5% additional growth coming from acquisitions, margin stays roughly the same 🟢 Bull Case: $831 . Growth remains consistently above 15%, 1% additional growth coming from acquisitions, margin slightly increases 🎯 Meta Stock Buy Zones Market prices move much faster than business fundamentals, often leading investors to overpay during rallies or panic during drawdowns. Instead of trying to time a single perfect entry price, the Quality Stocks Framework establishes staggered Buy Zones creating a mix between fundamental analysis and technical analysis. This disciplined, multi-tiered approach allows to scale into quality positions as the risk-reward profile improves taking emotion out of the execution. Buy zone 1 : $600 - 🟢 Moderately Attractive below $600 Buy zone 2 : $460 - 🟢 Highly Attractive below $460 Buy zone 3 : $380 💡 Is Meta Stock a Buy? My Verdict Verdict: 🟡 Conditional Meta offered a much more attractive setup around the $600 level. The recent share price acceleration may be justified by the stronger AI narrative, but it has also reduced the margin of safety and left less obvious upside at current levels. The risks should not be underestimated either: competition in AI assistants will intensify quickly, while Meta is simultaneously absorbing significant pressure on margins and free cash flow from its massive infrastructure investments. Given that combination of higher expectations, lower cash conversion, and rising competitive risk, I would require a meaningfully better entry point. In my view, a correction of roughly 20% from current levels would be the minimum needed to make the risk/reward sufficiently attractive. 📚 Browse the “Stock of the Week” Archive Booking : A Compelling GARP Setup? Medtronic : Is Growth Coming Back? Nike : Is a Rebound Coming? Applied Materials : Why Has the Stock Dropped Despite Good Earnings? Uber : Is Bill Ackman Right to Be Bullish? Alphabet dipped following its Q2 26 earnings, discover why BNP Paribas posted strong earnings, but is the valuation attractive or is patience required ? Want to apply this framework beyond Meta? Access my Quality Screeners, Fair Values, Buy Zones, real-money portfolios, latest trades and investing resources in the Quality Stocks Subscriber Hub 📐 Sources & Resources Company results. Meta Q2 2026 earnings release - link Muse. Amazon Blocking Muse / 3.4M Downloads Within the First 3 Weeks Historical data and analyst consensus. MarketScreener Scoring, valuation & verdict. Quality Stocks Investment Framework Technical analysis. ProRealTime via MarketScreener / Quality Stocks Historical data and analyst consensus for my analyses are sourced via MarketScreener . It is my go-to platform for global stock data . If you are looking to upgrade your research toolkit, click here (Full disclosure: this is an affiliate link, so you will be supporting this newsletter at no extra cost to you!)

MSFTMicrosoftBullishMicrosoft

1w ago

Microsoft Stock Analysis: Is MSFT a Buy?

High-quality ecosystem with Azure/AI growth, but price above $412 base fair value.

AMZNAmazonNeutralAmazon

2w ago

My 40-Stock Watchlist With the Prices I Would Buy Them

Great businesses. Attractive prices. Patience 40 stocks, 3 buy zones for each, 12 investment themes: my shopping list in the large-cap universe for the next market correction When it comes to investing and buying stocks, there are 2 broad approaches : buying during pullbacks and market corrections or following a momentum -driven strategy. Personally, I belong to the first group. While this approach is appealing because of its focus on fundamentals and long-term value, it comes with 3 key challenges: Buying during pullbacks often means investing while the stock is in a negative trend and the market narrative surrounding the company is unfavorable You never know where the bottom will be . Predicting the exact low is virtually impossible, which inevitably adds an element of uncertainty This approach requires patience , as truly compelling buy zones for major blue-chip stocks may only appear once or twice a decade Despite these challenges, I find this approach more compelling. By focusing on a company’s fundamentals, I can estimate its intrinsic value and take advantage of opportunities to buy at attractive prices with a long-term holding period in mind. In my view, this approach is more appealing than a momentum-driven strategy, which places greater emphasis on buying stocks with strong upward price trends. To deal with the uncertainty surrounding market bottoms, I like to define 3 buy zones and gradually build a position as the share price moves through them. While it is extremely difficult to buy at the absolute bottom, having a structured plan allows me to take advantage of different market scenarios. Before diving in, here are two useful resources to better understand the methodology: The Quality Stocks Investment Framework is a detailed overview of my methodology, including quality scores, fair values, projected TSR, buy zones and more The Quality Stocks Subscriber Hub is the central place to access all the key resources, tools, and features available to subscribers Join 22,000+ investors receiving our weekly GARP research Let’s Begin With an Example We will use Microsoft as an example. Microsoft is a core holding in my World Class Quality Portfolio. Since mid-2025, my preferred buy zone has been around $360. I added to my position in April 2026, when the share price came close to that level. This is exactly the purpose of this methodology: to maintain a watchlist of high-quality companies with clearly defined price targets , so I am ready to act when the market offers an attractive opportunity. Microsoft currently trades at around 25x earnings, with expected revenue growth of approximately 18%. Below are my 3 buy zones and their corresponding implied PE multiples: $430 | 22x PE $360 | 18x PE ( my preferred buy zone at the moment) $300 | 15x PE ( reaching this level would likely require a significant bear market, potentially accompanied by pressure on margins and growth. In that scenario, the underlying earnings assumptions and therefore the PE calculation could also change. While I consider this outcome unlikely, the probability is not zero, so I prefer to be ready) What You Will Find in This Article In this article, I will focus on a selection of the major companies I currently follow closely. I will focus on a selection of the major high-quality companies I follow most closely and share the buy zones I currently monitor for each of them. The objective is to provide a practical overview of the core opportunities on my radar . For companies I already own, I publish a monthly update covering the latest scores, projected TSRs, and updated buy zones. You can find the most recent portfolio update here . The objective is simple: to present my personal watchlist of large-cap stocks I would be interested in owning, together with the valuation levels that would make me consider adding them to my portfolios. This article is therefore one of the best ways to follow my investment strategy in real time, discover new ideas , refine your own watchlist , and see the exact buy zones I am currently tracking. A Quick Look at the Watchlist Before diving into individual companies, here is a quick overview of the watchlist. For this article, I selected 40 major companies across 12 investment themes . The objective is not to share every company I follow, but rather to focus on a selection of established high-quality businesses that I monitor closely and for which I have clearly defined buy zones. To make the watchlist easier to navigate, I grouped the companies by investment theme: E-commerce. 4 stocks Digital Platforms. 4 stocks Energy & Electrification. 4 stocks Defense. 3 stocks Luxury. 2 stocks Sportswear. 2 stocks Software. 5 stocks Cybersecurity . 1 stocks Healthcare. 5 stocks Semiconductors. 3 stocks Financial Services & Data. 2 stocks Payments . 2 stocks Recovery / Temporarily Pressured Stocks. 3 stocks E-Commerce Amazon Ticker: AMZN | Country: US Scores: Growth 94/100 | Quality 73/100 | Valuation 46/100 Fair Value: $251 | Current Price: $253 | 2027 PE: 24.2x | 2027 rev. growth : 14.2% My Buy Zones Buy zone 1. $200 | Implied 2027 PE: 19.1x Buy zone 2. $170 | Implied 2027 PE: 16.3x Buy zone 3. $145 | Implied 2027 PE: 13.9x At current levels, Amazon is trading close to my fair value estimate. I already consider the first buy zone around $200 particularly attractive given the quality of the business and its long-term growth prospects. AWS is currently the key driver to watch. Its recent growth acceleration could provide meaningful upside to my estimates, while any slowdown would represent one of the main risks to the investment case. For a deeper look at Amazon’s business, growth drivers, valuation and risks, you can read my full deep dive here . MercadoLibre Ticker: MELI | Country: Argentina Scores: Growth 100/100 | Quality 68/100 | Valuation 65/100 Fair Value: $2,270 | Current Price: $1,787 | 2027 PE: 32.1x | 2027 rev. growth : 27.8% My Buy Zones Buy zone 1. $1,700 | Implied 2027 PE: 30.5x Buy zone 2. $1,360 | Implied 2027 PE: 24.4x Buy zone 3. $1,170 | Implied 2027 PE: 21.0x MercadoLibre earns the highest possible Growth Score in my framework , reflecting the strength of its long-term growth profile across e-commerce, digital payments, and financial services in Latin America. With a fair value estimate of $2,270 , $1,700 is already a decent buy zone. The key point with MercadoLibre is that its strong growth can justify a premium valuation, but I still want to remain disciplined on the price I am willing to pay. As a comparison, the stock price is below its 2021 level. For a deeper look at Mercadolibre’s business, growth drivers, valuation and risks, you can read my full deep dive here . 🔓 Continue With the Full Watchlist You have seen 2 stocks. 38 remain. Paid subscribers get access to the complete watchlist, including: 📈 Growth, Quality & Valuation Scores 🎯 Fair Value Estimates 💰 3 Buy Zones for Every Stock 🌍 40 High-Quality Companies Across Multiple Themes The objective is not to predict the next correction. It is to know what I want to buy and at what price before the correction happens. Some of the companies covered below include Meta, Reddit, Rheinmetall, Intuit, ServiceNow, TSMC, Mastercard, AppLovin and many more 👉 Unlock the full watchlist below Upgrade to Paid Read more