Trade Tracker: Bill Baruch buys more Apple and Amgen

We do have a trade alert I want to bring to you. It’s a courtesy of Bill Baruch. He joins us again today. Pretty active in the markets these days. It’s good to see you. And we’re talking about growth. Let’s talk about apple because you added to that. We could talk about the one, the next one in a moment, but apples obviously had a bit of a comeback. Why’d you add to it? I I think first the conversation at the desk is is terrific. I mean that’s really right in the theme of why I’m adding Apple. We we trimmed it a couple months back in the mid to high 180’s and and really the stock came so unloved because everybody said what are you doing for me now? I mean everybody has an iPhone are they going to buy more iPhones what innovation do they have. But in the last couple of weeks we’ve gotten some innovation. We when I was on the show starting to increase Apple again a couple weeks back when the AI powered iPad and MacBook were were talked about and now we’re getting more tailwinds around that. And then just last night we see that iPhone shipments to China are up 12%. China was a big fear. So that really kind of pushed me over the edge And then you you start to hear as well about Apple working on an AI chip for dead data centers. So I I really think that when you when something becomes as unloved and the sentiments negative that’s when you have to be looking at it. So we’re continuing to increase Apple, we’ve been underweight. This gets us back to about 5%. So it’s only marginally under the S waiting in the S&P. Now we got a almost a month exactly until WWDC and that’s where we expect some more clarity on the AI ambitions that that Apple has. I can’t help but believe that some of this is trying to get ahead of that too. Absolutely. I and I think you get a tailwind into that. I would love to say we can clear 190 before that. That would be a big move that would be about a 5% move. But I want to make sure I’m at market weight at this point, especially after trimming it well a couple months ago as we were moving a little bit out of tech. So a lot of this movement talking yesterday about adding crowd here and Apple is just continuing to get back into some of the tech that we had sold a couple months ago, Amgen 2, that’s the other one you added to that as well. Tell us yeah Amgen I mean had a had a decent report but the news about the weight loss drug really helped that that stock trade 15% higher last week after hours it’s settled in a little bit. You know I’m now I will say we do a lot of things great. One thing we do we did miss was the weight loss drug in in healthcare and Amgen was our baby there. We’re we’re looking at increasing that position. We have now increased in 50 percent, got it up to about a weighting of 2.3%. Now there’s good tailwinds around this weight loss drug and I do like the fact that compared to OZEMPIC, which needs a weekly shot or or and and this is actually a monthly shot, potentially it’s going to move into phase three. So we should see some tailwinds there. But I don’t want to get sidetracked about a lot of the drugs that they have working. They increased revenue 22% for for the therapeutic drugs increased by 22% as well really driving that 10 therapeutic drugs increased by by 10%. So they are increasing revenues and as they start to bring new drugs in the mix and they move these legacy drugs out, that’s how the multiple is going to increase. So I really like increasing our position Amgen here and seeing how that plays out through the rest of the year. I appreciate you coming on and updating us. Anytime you do something, you let us know. Bill Baruch. We’ll see you back on the desk.